Tuesday, Aug 01, 2017

Dubai: The Dubai Gold and Commodities Exchange (DGCX) saw single stock futures reach an all-time high, trading an average daily volume of over 10,000 lots for the first time.

Indian single stock futures recorded the highest monthly volume of 214,769 contracts with open interest of 2,128 contracts in July 2017, while recording a year-to-date increase of 274 per cent.

Average daily volumes in G6 currency pairs also saw significant growth month-on-month with the euro up 41 per cent, the Canadian dollar gaining 73 per cent and the Australian dollar up 26 per cent. Year-on-year overall G6 currency product volumes grew by 80 per cent.

“The summer months are usually a lacklustre period for trading activity. However, it has been an active month for [the] DGCX this year,” Gaurang Desai, CEO of DGCX, said in a statement.

“Not only have we seen greater participation and trading activity in our marketplace but we have also received the regulatory recognition to expand our reach and offer our capabilities to dynamic local bodies such as the ADX and ADGM. Our strategy on Single Stock Futures is starting to gain momentum, as witnessed last month with volume and open interest growing in tandem.”

The DGCX’s recent regulatory recognition from the Abu Dhabi Global Markets (ADGM) is part of a wider overall development plan and integration of markets.

The DGCX is a recognised market by the Monetary Authority of Singapore (MAS), the Dubai Financial Services Authority (DFSA) and the Financial Services Regulatory Authority (FSRA). This also ties in with the ESMA recognition that the Exchange received earlier this year.

Staff Report

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