Dubai's DGCX sets new daily trading record at $3.6bn

Dubai Gold & Commodities Exchange says new daily volume record was set on July 26
Dubai's DGCX sets new daily trading record at $3.6bn
By Staff writer
Thu 28 Jul 2016 01:27 PM

Trading volumes on the Dubai Gold & Commodities Exchange (DGCX) witnessed a new daily trading record on Tuesday, leading the exchange to record its highest ever daily volume of 176,645 contracts valued at $3.6 billion.

The new daily volume record surpasses the previous high of 150,570 contracts registered on June 24, recording an increase of 17 percent, DGCX said in a statement.

It added that the exchange also recorded the highest daily Open Interest of 344,610 contracts valued at $6 billion.

Gaurang Desai, CEO of DGCX, said: "We are delighted to see the exchange set this record as it affirms that our market participants are confident with taking positions and managing their risk efficiently and effectively on the DGCX platform, especially when the markets are surrounded by uncertainty influenced by geo-economic developments."

Earlier this year, DGCX said trading volumes recorded an all-time high, exceeding 9.5 million contracts in the first half of this year.

Trading volume grew by nearly 50 percent compared to the same period last year.

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