Volume on Dubai Gold & Commodities Exchange (DGCX) has recorded a year-on-year growth of 6 per cent in September to reach 96,292 contracts.
Valued at $4.6 billion, DGCX said the six per cent growth in September was largely driven by currency and crude oil futures contracts.
WTI crude oil futures traded 14,400 contracts in September, an increase of 149 per cent on last year. Trading in the GBP/Dollar, Indian Rupee/Dollar and Yen/Dollar futures reached 12,698, 4,927 and 4,012 contracts respectively last month, gathering momentum compared with the same period last year. Total volume for currency futures rose by 85 per cent year-on-year to 27,963 contracts.
On 30 September, the value of Indian Rupee/Dollar futures traded on DGCX was $24.41 million despite the Indian public holiday, underscoring the international interest in the contract. DGCX was the only Exchange open for trading Indian Rupee/Dollar futures on 30 September. The volume of Indian Rupee futures was 585 contracts.
“As the only exchange outside of India to offer trading and clearing for Indian Rupee futures business, DGCX is the alternative to the unregulated Non Deliverable Forward (NDF) market,” DGCX said.