Dubai Gold & Commodities Exchange (DGCX) reported its trading metrics for January 2022 today and posted an increase in trading activity across different products. Overall, the traded value reached $7.95 billion for the reported month.
In addition, the exchange posted a sharp 95% YoY growth in the ADV of its Gold contracts. DGCX registered a monthly Average Open Interest (AOI) of 128,828 contracts for January 2022. The INR Quanto Futures Contract of DGCX saw a jump in its trading activity as 26,963 lots were traded with a total value of $201.23 million.
“Volatility in the equity markets, expectations of interest rate hikes and high oil prices, amongst several other factors, had an impact on trading in January, as market participants looked for safety in response to global economic headwinds. Looking ahead, we see these trends continuing in the short term and expect increased demand for our derivative products as market participants look to hedge and offset their risk. We can also share that we have a robust pipeline for 2022 and will soon introduce a number of contracts and services that will appeal to our member base,” Les Male, the CEO of DGCX, commented.
In the last 2 years, DGCX saw decent growth in FX-related trading activities. Even in the last month, clients of DGCX actively leveraged the exchange’s pool of Indian Rupee (INR) Currency Contracts.
Pipeline for 2022
According to the exchange, it is planning to introduce several new products and services in the coming months. Due to its strategic location in Dubai, the exchange has seen a jump in interest from European and Asian investors during the past few years.
Dubai Gold and Commodities Exchange owns and operates the region’s largest and only multi-asset Clearing House, Dubai Commodities Clearing Corporation (DCCC). DGCX & DCCC are regulated by the Securities & Commodities Authority (SCA).
