The Dubai Gold and Commodities Exchange records strong growth in gold futures trading and open position rates

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01 04 2020

In light of the fluctuations that hover over the global markets
Dubai, 1 April 2020 – In light of the volatility in global markets due to the spread of Covid-19 virus, investors are increasingly resorting to derivative products and services provided by the DGCX, as effective risk management tools. In light of this, the Dubai Gold and Commodities Exchange witnessed during the past month a record growth in the average daily volume of its pioneering product, the futures contract for gold by 649.5% on an annual basis, with trading volumes since the beginning of the year to date increased by 742.8% compared to the same period last year. The G6 core currency pairs portfolio of the stock exchange witnessed a significant increase in trading volumes during the month of March, registering a growth of 390.8% on an annual basis, and by 475.4% since the beginning of the year to date compared to the same period in 2019. In another indication of the sustainable growth achieved by The stock market, in terms of interest rates and liquidity, recorded the rate of open interest since the beginning of last month 380,869 contracts, compared to 268,752 for the same period last year.

Commenting on the impact of the spread of Covid-19 virus on the Dubai Gold, Commodities and International Markets market, Les Mill, CEO of the Stock Exchange said: “Today we live in exceptional times in every sense of the word, as the spread of the Covid-19 virus has caused turmoil affecting all global markets.” With the fear growing during these periods, we, as the largest and most diversified financial derivatives exchange in the Middle East region, confirm our commitment to provide traders and members with the wide range of products that they need across different asset classes to be able to They can manage their risks effectively. ”

The total trading volume on the Dubai Gold and Commodities Exchange during the month of March increased by 1.8 million contracts, valued at US $ 45.133 billion. The average daily trading volume increased throughout the month, recording 81,850 contracts.

“The markets play a crucial role in the global and regional economy, so it is important to continue its work and provide the necessary transparency to ensure that investors gain the trust. With the strong activity that we have seen on the DGCX, we remain committed to supporting our members from all over the world and providing our services,” Mill added. Them as usual. ”

It is worth noting that the Dubai Gold and Commodities Exchange continues its activities naturally through trading and clearing platforms, while providing safe and reliable services to members and their clients regarding price discovery and risk management operations. The Stock Exchange does not expect any change to the usual trading or clearing activities, but in the event of any change, it will be announced according to a market notice.

-is over-

About the Dubai Gold and Commodities Exchange:

The Dubai Gold and Commodities Exchange was established in 2005 as the first exchange for commodity derivatives in the region and the only one that allows traders to settle transactions within the Gulf region. The DGCX has played a leading role in developing the regional market for commodity derivatives. The DGCX is a subsidiary of the Dubai Multi Commodities Center (DMCC), a strategic initiative by the Dubai government, with a mandate to enhance commodity trading across the emirate by providing the physical, financial, market and necessary services infrastructure. The Dubai Gold and Commodities Exchange is a fully electronic exchange for trading currencies and derivatives with a base containing more than 148 members from around the world, offering futures and options contracts covering the precious metals sectors, energy and currency sectors. For more information, visit our website: www.dgcx.ae

The DGCX owns and operates the largest multi-asset clearing house in the region, the Dubai Goods Clearinghouse (DCCC), regulated by the Securities and Commodities Authority (SCA) and licensed as a central clearing company by the Securities and Commodities Authority (SCA), and recognized as a clearing company Centralized in a third country by the European Securities and Markets Authority (ESMA) with over 60 clearing banks around the world. for further information: www.dccc.co.ae

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Weber Shandwick

Phone: +971 (0) 4 445 4222

Email: [email protected]

© Press Release 2020

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