DGCX Continues to Register Strong Interest in Silver and Gold Futures Contracts
The Dubai Gold and Commodities Exchange (DGCX) today announced that during the month of March, it registered a monthly Average Open Interest (AOI) of 191,974 contracts.
Once again, the DGCX Group’s best performing product segment was precious metals, with its Silver Futures Contract recording a year-to-date (Y-T-D) volume growth of 209% compared to the same period last year. Additionally, the DGCX’s flagship Shari’ah Compliant Spot Gold Contract recorded a year-on-year (Y-O-Y) Average Daily Volume (ADV) growth of 151% during March.
Les Male, CEO of DGCX, said: “During the first quarter of 2021, we recorded sustained interest in our Silver Futures Contract, largely driven by market participants’ desire to safeguard their risk and turn to reputed safe havens such as Silver and Gold. Another prevailing trend was a rising interest for products that comply with Islamic principles, as exhibited by the strong performance of our Shari’ah Compliant Spot Gold Contract in March. Subject to further conditions and market feedback, we are currently exploring opportunities to expand our metals portfolio with more contracts that adhere to Islamic principles – such as a Shari’ah based Silver Futures Contract.”
On March 8th, the DGCX as a signatory to the Women’s Empowerment Principals (WEP), honored International Women’s Day with a Bell Ringing ceremony for Gender Equality. The DGCX Group joined more than 86 exchange houses around the globe for the 7th annual ‘Ring the Bell for Gender Equality’ ceremony; an initiative held in partnership between the World Federation of Exchanges (WFE) and Sustainable Stock Exchanges (SSE), as well as UN Women, UN Global Compact, Women in ETFs and the International Finance Corporation.
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:
Weber Shandwick PR
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