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23 February 2024

DGCX sees record daily volumes

DGCX sees record daily volumes. (EB FILE)

By Staff Writer

Dubai Gold & Commodities Exchange (DGCX) has recorded its highest ever daily volume yesterday with trading of 19,255 contracts at a record notional value of $1.27 billion (Dh4.4bn).

Breaking all earlier records, daily volume on the exchange exceeded the previous daily high of 14,066 contracts on July11, 2008.

The record trading activity was supported primarily by increased volume in currencies. Interest was most significant in the Euro/Dollar futures contract, which also achieved a record daily volume and notional value of 11,546 contracts and $783 million, affirming the sustained demand for its commodity and currency derivatives contracts.

"The daily record on DGCX firmly endorses the success of our business strategy and the diversified product range of the exchange, which meets the needs of our market participants," said Eric Hasham, Chief Executive Officer, DGCX.

"The growth and record daily volume is also testimony to the exchange's efforts, in conjunction with its members and market makers, to strengthen liquidity by providing competitive spreads and prices," he added.

Hasham said DGCX has seen numerous records over the past year.


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