PKR Futures Records Surge Growth in Volume this month

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The Dubai Gold and Commodities Exchange (DGCX), the region’s leading derivatives exchange, today announced that it registered a monthly Average Open Interest (AOI) of 208,343 contracts during the month of May, worth a total value of USD 12,853 million.

The Silver Futures Contract recorded a year-to-date (Y-T-D) volume growth of 139% compared to the same period last year.

Continuing its strong performance, the DGCX also saw the newly launched Pakistani Rupee (PKR) Futures Contract grow with a total of 2,028 lots valued at USD 26.38 million traded since its launch in April. Elsewhere, the DGCX’s Indian Rupee Mini Futures Contract recorded a year-on-year (Y-O-Y) Average Daily Volume (ADV) growth of 45% during the month.

May’s trading volume included block trades with a total trade value of USD 763.1 million. DGCX’s wholesale trading facilities, which includes block trades, allows members and market participants to pre-negotiate large value and package transactions without incurring any price slippage.

Les Male, CEO of DGCX, said: “Our Silver Futures Contract demonstrated strong growth last month, which is a testament to the increased global demand for the precious metal over the last year, as well as its reputation as an optimal alternative to gold. Meanwhile, our new PKR Futures Contract also continued to grow in terms of volume and value, as market participants looked to expand their trading opportunities to the Pakistani market.

Going forward, we are fully focused on leveraging our recent partnerships with the Global Islamic Financial Services and S & Royal Group Mongolia - as well as our permit from the Israel Securities Authority (ISA), to bring a host of new and value-added products for the benefit of our member base.”

During the month, DGCX also recently hosted a collaborative webinar entitled ‘What Next in The Middle East?’ with BSO one of its Network Service Provider partners which focused on opportunities for market participants following the DGCX’s approved permit from ISA.

About DGCX:

The Dubai Gold & Commodities Exchange (DGCX) is the region’s leading derivatives exchange and has played a pioneering role in developing the regional market for derivatives trading, clearing and settlement. 

The DGCX 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). It is recognised as a licensed Central Clearing-Counterparty (CCP) by SCA and a Third-Country CCP by European Securities Markets Authority (ESMA).

The DGCX’s strategic geographic location in Dubai between the Far East, Europe and Africa serves as a unique, global window for traders and investors. With over 100 members across the world, the DGCX drives liquidity in the market by offering a broad range of futures and options contracts covering base and precious metals – including the world’s only Shari’ah Compliant Spot Gold Contract – hydrocarbons, equities and currencies.

For further information please contact:

Daniel Chinoy

Weber Shandwick PR

Tel: +971 50 255 3402