The Dubai Gold & Commodities Exchange (DGCX) released the trading volumes for March 2022. The monthly Average Open Interest (AOI) reached 134,154 contracts. The total trading volume was $15.74 billion.
Due to geopolitical tension, high demand was noted in the G6 Currency Future Contracts in March. The year-to-date (YTD) posted a moderate growth of +140.11% compared to 2021.
The Euro (EUR) and British Pound (GBP) futures Average Daily Volumes (ADV, year-on-year) increased by +527.5% (EUR) and +261.5% (GBP). Additionally, the Japanese yen (JPY) volumes jumped by +339.2%.
The biggest gains in terms of trading volumes were seen in the Australian Dollar (AUD), +744.76%.
Moreover, the Pakistani Rupee (PKR) futures have posted strong trading volumes (monthly) since it was launched in 2021. PKR contracts reached 7,158 lots or $79.52 million.
DGCX at AFCM Annual Conference
The CEO of DGCX, Les Male commented on the figures, “Trading activity for March was led by the DGCX’s currency portfolio, as market participants looked to manage currency risk in an uncertain climate arising from geopolitical events and changing monetary policies.
"The G6 Currency portfolio, in particular, saw a significant increase in demand, with all six contracts witnessing an uptick in volumes. We remain committed to providing our members with innovative and value-added products and continue to work towards offering them the best possible trading experience.”
The DGCX was active at the Arab Federation of Capital Markets (AFCM) Annual Conference. The event brought over 2,000 people from exchanges, regulatory entities, brokers, investment funds and journalists.
In addition, a webinar took place with the Global Islamic Financial Services (GIFS). Shariah gold futures and other Islamic financial products were discussed at the webinar.
Furthermore, the Dubai Commodities Clearing Corporation (DCCC) affirmed the renewal of its recognition as a third country CCP (TC-CCP) by the European Securities and Markets Authority (ESMA ).
