Dubai Gold Exchange on track to break annual volumes record

DUBAI, 1st November, 2018 (WAM) -- The Dubai Gold and Commodities Exchange, DGCX, has traded 18.8 million contracts year-to-date, up 35 percent year-on-year, and is on track to break its annual volumes record of 19.67 million contracts. Y-T-D average daily volumes are at an all time high, reaching 87,253 lots. Amidst continued market volatility, the G6 currencies were the stand-out performers in October, most notably the Euro which recorded volume growth of 51 percent Y-T-D. Gold products also performed strongly, with Gold Quanto and Shanghai Gold registering Y-T-D volume growth of 48 percent and 59 percent respectively. Commenting on the results, Les Male, CEO of Dubai Gold and Commodities Exchange, said, "DGCX has already set numerous records throughout the year, but we are particularly delighted to be on course to break our annual volumes record. This feat is testament to the efforts of all our stakeholders, and demonstrates the importance of regulated exchanges to the global financial ecosystem, as traders seek to safely hedge their risk as markets react to continued geopolitical uncertainty. We approach the end of 2018 upbeat and full of confidence, and we will continue to strive for even greater success as our attentions turn to the year ahead." The performance of Indian Single Stock Futures has further underpinned DGCX’s record-breaking year, with the product registering 64 percent growth Y-O-Y, trading over 2.2 million contracts with a notional value of over US$13 billion so far.