DGCX attracts wider regional participation in February 2016
February marked another strong month of trading for the Dubai Gold & Commodities Exchange (DGCX), driven by continued global market volatility and availability of expanded product offering and deepened member community.
Trading volumes on Exchange recorded growth of 42 per cent during the February 2016 as compared to the same period last year while average daily Open Interest rose by 50 per cent.
Launch of 15 Single Stocks Futures (SSF), 10 Indian stocks and 5 US stocks, allowed local trading and investor community to access global stock markets while keeping their money in the UAE. At the same time, it offered global market participants of DGCX an exciting alternative to trade Indian & US equities. Equities segment showed an encouraging trend with a growth of 80 per cent in average daily volume, from 535 contracts in January to 965 in February.
Energy was another key trading segment this month with WTI Futures recording its highest daily average Open Interest of 1,215 contracts, up 130 per cent from January 2016. Gold Futures contract continued to be a consistent performer. Gold recorded average Daily Volumes of 1,700 contracts, an increase of 52 per cent over January 2016. Gold products group Open Interest also grew by 60 per cent over January 2016.
Gaurang Desai, the Chief Executive Officer of DGCX, said: “We are very pleased with the Exchange’s positive growth trajectory and continued expansion of our participant community. Our expanded product offering have gained significant traction, especially the newly launched Single Stocks Futures. We strive to remain the Exchange of choice for our members and continue to expand our appeal to investors looking for reliable and safe opportunities to protect their assets.”
Follow Emirates 24|7 on Google News.