The Dubai Gold & Commodities Exchange (DGCX) announced that it traded 12.73 million contracts in 2020, and recorded a yearly AOI of 220,504 contracts in 2020. Open interest refers to the total number of outstanding contracts at the end of the trading day and is a strong indicator of an exchange’s success.
Additionally, the best performing product in 2020 was DGCX’s AUD Futures Contract, which traded over 0.26 million contracts, up 4,694% year-on-year (Y-O-Y), with AOI up by over 3.8% over the same period.
During 2020, the DGCX launched products that performed strongly; the Weekly INR-US Dollar (USD) Futures Contract as well as the launch of three FX Rolling Futures Contracts – Euro (EUR), Pound Sterling (GBP) and Australian Dollar (AUD) against the US Dollar (USD). Both products continue to display steady growth, which is testament to heightening demand.
Commenting on the year, Les Male, CEO of DGCX, said,
"The pandemic presented disruption as well as challenges for many industries on a global scale. Against this backdrop, it is encouraging to note that not only did we keep the market open throughout 2020, but that we also extended trading hours for both the Indian Budget and US Elections in response to demand from our members and market participants.
Moreover, we are also proud that we were able to successfully introduce new products that have performed exceptionally well in the marketplace, as well as build on our partnerships, and strengthen our overall capabilities."
News Source: https://www.wam.ae/en/details/1395302899661