Dubai Gold & Commodities Exchange (DGCX) said the total volumes of contracts for March stood at 1.8 million, valued at $45.133 billion. The Average Daily Volume (ADV) for the same month hit 81,850 contracts.
As the Covid-19 pandemic causes volatile swings in markets across the globe, investors are making increasing use of DGCX's derivatives products and services as risk management tools, said the exchange.
Last month witnessed DGCX's flagship Gold Futures product record year-on-year ADV growth of 649.5 per cent, and year-to-date volume growth of 742.8 per cent compared to the same period last year.
The DGCX’s G6 currency portfolio also saw trading spike in March, registering Y-o-Y volume growth of 390.8 percent, and YTD volume growth of 475.4 percent compared to the same period in 2019.
And in another indication of the sustainable growth the Exchange is experiencing in resident interest and liquidity, YTD Average Open Interest (AOI) last month was 380,869 contracts, up from 268,752 during the same period last year.
Commenting on the impact Covid-19 is having on the DGCX and global markets, CEO Les Male said: "These are truly extraordinary times. The spread of virus has caused tremors of uncertainty across global markets, in which stocks have plunged into bear market territory in record time."
"During these periods of heightened concerned, as the largest and most diversified derivatives exchange in the Middle East, we are committed to providing our traders and members with a wide range of products across different asset classes to manage their risk effectively when they need them the most," he noted.
"Markets play a critical role in the global and regional economy so it is important that they remain open and transparent to give investors confidence. With the DGCX experiencing high-levels of activity we remain committed to supporting our members from across the globe and providing our services as usual," Male added.-TradeArabia News Service