The Indian rupee futures contract recorded an annual growth of 562 percent in average daily trading volume during this month in light of the desire of market participants to hedge against risks amid unstable market conditions, according to the official Emirates News Agency, WAM.
The trading volume of the new Pakistani rupee futures contract reached 180 contracts, valued at $ 2.35 million, and the Stock Exchange launched these contracts in mid-April, to be the first contracts of its kind to be traded on any licensed exchange in the world..
Silver futures contracts maintained their strong performance in 2021, as the Dubai Gold and Commodities Exchange witnessed a significant increase in trading of these contracts during the month of April, with its trading volume growing by 146 percent since the beginning of the year to date compared to the same period last year..
Les Mill, CEO of DGCX, said that the DGCX Group witnessed many important achievements last month, which strengthens its position to move forward in the future.
He added: During this month, we obtained approval from the Israel Securities Authority that allows qualified Israeli companies that trade for their own account in the market to join the exchange’s membership base and benefit from the services and trading platform it provides. And the signing of a memorandum of understanding with the International Company for Islamic Financial Services to develop Islamic contracts and derivatives for market participants.
“Mail” expressed his confidence that “these initiatives will enhance our growth and support our efforts in meeting the growing needs of our exchange’s member base.”“.
Mail added: Last April, the Dubai Gold and Commodities Exchange obtained approval from the Israel Securities Authority that would allow it to provide its various products and services, which include futures and options contracts covering contracts of precious metals, energy, currency and stocks sectors to market participants and qualified investors within Israel.
The Dubai Gold and Commodities Exchange also signed a memorandum of understanding with the International Company for Islamic Financial Services to cooperate in the future in developing derivative products and Islamic commodities, in addition to promoting a gold contract that complies with Islamic Sharia at the DGCX, which meets the requirements of owning gold stipulated in the provisions of Islamic Sharia.