Dubai Gold and Commodities Exchange breaks annual volumes record | ZAWYA MENA Edition:
The Dubai Gold and Commodities Exchange, DGCX, announced today that it has rounded off a highly successful 2018 by breaking its annual volumes record, trading 22.26 million contracts, up 28 per cent from the previous year.
The total value of the contracts was US$474.94 billion, beating its previous highest value of US$448 billion traded in 2013. Average Daily Volumes also finished the year at an all-time high, reaching 86,615 lots. The Exchange achieved a strong start to 2018, recording 5,541,732 lots traded in Q1, valued at US$129 billion.
Building on this momentum, in May, reported its best month since inception, recording its highest monthly volume with 2,163,598 contracts traded, valued at US$46.1 billion. With the Exchanges best quarter coming in Q3 with 5,863,276 lots traded. In March, the Exchange launched the GCC’s first and the world’s only exchange-traded Shari’ah Compliant Spot Gold contract. The Exchange also introduced new cutting-edge technology, upgrading its trading and clearing solution from Cinnober to an enhanced version of the TRADExpress platform, streamlining its business development capabilities and improving bandwidth usage and latency performance.
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