In the current volatile economy, trading numbers for the month of October in terms of year-to-date (YTD) growth and average daily volumes (ADV) continued to rise at Dubai Gold and Commodities Exchange. By the end of the month volumes were up by 18.41%, as compared to last month, while the total value of contracts traded so far in 2022 rose to USD 131,911 million.
143,854 Contracts Average Open Interest
142.8% Y-T-D Growth Gold Futures Contract
229,716 contracts worth 11,057 million - G6 Currencies
Spotlight
October was a notable month, where Dubai Gold and Commodities Exchange recorded the second highest daily volume growth since April 2020. Pakistani Rupee was the highlight of the month as it continued to perform strikingly well in average daily volume (ADV) of trades since its introduction into DGCX’s portfolio. The Pakistani Rupee recorded 6,402 trades in October.
DGCX’s G6 currencies portfolio saw a healthy pick up in trading this month, with a strong performance from Euro, Pound Sterling, and Yen. The overall G6 currency volume of trades stood at 229,716 lots on a year-to-date basis.
DGCX News
Earlier this month, DGCX hosted the Intermarket Surveillance Group (ISG) conference on 18 - 19 October 2022. The event was moderated by Nasser AlJasemi, Head of Trading and Surveillance. The platform welcomed global experts to exchange best practices on handling manipulation and trading exploitations. Our subject matter expert, Maggie Mansour, DGCX Compliance Director gave a keynote speech on UAE’s Regulatory Framework and further expanded on the region’s best practices.
Furthermore, Louis Hems, Commercial Director at DGCX, attended the Pakistan Business Luncheon, hosted by DMCC, on 11 October 2022 where he presented DGCX’s PKR futures product to the audience and highlighted its performance in the region till date. Ahmed bin Sulayem, CEO of DGCX also met with Giyan Chand, Deputy Consul General of Pakistan to the UAE to discuss business opportunities between UAE and Pakistan.
There was cause for celebration this month as DGCX and DCCC were shortlisted for the FOW International Awards 2022, which recognizes the best and brightest in the derivatives industry, reiterating DGCX’s excellence and growth. The other shortlisted nominees included some of the largest exchanges and clearing houses in the world.