DGCX negotiates total contract value of $13.68 billion in volatile market – News

DGCX Group saw a sharp rise in Indian Rupee (INR) trading

DGCX remains committed to providing its customers with a wide range of products that meet their hedging and investment needs.



Published: Fri, March 4, 2022, 4:55 PM

The Dubai Gold & Commodities Exchange (DGCX) recorded deals worth a total of $13.681 billion in the month of February as global markets reacted to rising inflation, rising oil prices and than the Russian-Ukrainian conflict, which led to continued volatility in the last week of the month.

The exchange recorded monthly average open interest (AOI) of 125,206 contracts in February – and saw its precious metals portfolio lead the trading activity. The group’s gold futures contract recorded annual average daily volume (ADV) growth of 734%, while its silver futures contract recorded growth of 75%.

Elsewhere, DGCX Group saw a surge in Indian rupee (INR) trading, with its mini rupee futures, rupee options contract and weekly rupee contracts seeing increases of 67%, 206% and 87% respectively. DGCX’s West Texas Intermediary (WTI) futures gained ground on heightened volatility in oil markets – with ADV growing 136% annually.

Les Male, CEO of DGCX, said: “Volatility has been a recurring theme over the past few months as investors and traders continue to face a range of factors including inflation, oil prices and geopolitical developments.Against this backdrop, we have seen our precious metals portfolio lead the trading activity on the exchange.We have also seen a sharp rise in trading in the Indian rupee as market participants seek to hedge their exposure to the one of the fastest growing economies in the world.DGCX remains committed to providing its clients with a wide range of tradable products that meet their hedging and investment needs.

The DGCX has also announced that it will be hosting two webinars for market participants during the month of March. The first webinar will discuss a variety of hedging strategies related to trading its G6 currency futures on March 10, while the second will focus on its Sharia gold futures.

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About Tammy N. McFarlane

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