Trading hits new high on DGCX in July

Gold and Commodities Exchange (DGCX) achieved volumes of over 300,000 contracts in July. The exchange saw the highest ever monthly volume trade of 310,990 contracts in July, valued at US $15.05 billion (Dh55.23 billion), an increase of 99 per cent from last year. Increased trading activity throughout July saw average daily volume of 14,809 contracts with an underlying value of $717 million, up by 99 per cent year-on-year, with the highest ever Average Daily Total Open Interest of 15,303 contracts in July surpassing the previous month's record of 10,943 contracts. Year-to-date trading in Indian Rupee futures reached 1,172,852 contracts in July, reflecting a remarkable growth of 1,382 per cent over last year. Currency futures remain the key driver of this volume growth.