The Dubai Gold '&' Commodities Exchange (DGCX) yesterday announced that it recorded its highest ever daily volume on March 1st, trading 19,255 contracts at a record notional value of US$1.27 billion - affirming the sustained demand for its commodity and currency derivatives contracts.
Breaking all earlier records, daily volume on the Exchange exceeded the previous daily high of 14,066 contracts on 11th July 2008. The record trading activity was supported primarily by increased volume in currencies. Interest was most significant in the Euro/Dollar futures contract, which also achieved a record daily volume and notional value of 11,546 contracts and US$783 million.
"The daily record on DGCX firmly endorses the success of our business strategy and the diversified product range of the exchange which meets the needs of our market participants," said Eric Hasham, Chief Executive Officer, DGCX.
"The sustained growth and record daily volume is also testimony to the Exchange's efforts, in conjunction with its members and market makers, to strengthen liquidity by providing competitive spreads and prices," he added. Eric Hasham said that DGCX had witnessed numerous records over the past year, which has reinforced its status as the leading derivatives exchange in the region. - Emirates News Agency, WAM
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