Total trading volume on Dubai Gold and Commodities Exchange (DGCX), the region's leading commodities derivatives exchange, touched a record new high of 14,066 overall contracts on July 11, registering the exchange's highest overall daily value of above $978 million (Dh3.5 billion).
The recently launched crude oil contract, the West Texas Intermediate (WTI), set a new record with 3,871 contracts traded and equivalent to more than $562m, the highest daily WTI value.
Gold volumes on the exchange reached 8,274 contracts recording the highest daily gold value of more than $253m.
Considering the price escalation in major commodities such as oil and gold, the trading volumes on DGCX are set to increase even further in the coming months, said a statement. DGCX offers huge advantages to traders in the commodities markets in the region, with its wide range of futures contracts. It also offers many options to the region's burgeoning investment community, which is increasingly considering alternatives to stocks and real estate.
DGCX is a joint initiative of the Dubai Multi Commodities Centre, Financial Technologies India Limited and Multi Commodity Exchange of India Limited. It has a fully automated electronic trading platform accessible from anywhere in the world.