Futures contracts for “euro” and “sterling” record significant growth in “Dubai...

Futures contracts for “euro” and “sterling” record significant growth in “Dubai...
Futures contracts for “euro” and “sterling” record significant growth in “Dubai...

The DGCX continued to record strong growth during October 2020, as the products of the six major G6 currency pairs achieved outstanding performance in trading volumes, compared to the same period last year, with a rate of 378% since the beginning of this year to date.

The Stock Exchange said in a statement yesterday that among the six major currency pairs, the euro and the pound sterling futures contract achieved the strongest levels of performance, registering significant growth year on year at 67% and 392%, respectively. Market participants ’interest in alternative safe assets also continued, as the Stock Exchange recorded a significant increase in trading of the” silver futures “product, with trading volumes growing by 99% on an annual basis, compared to the same period last year.

The exchange also recorded the highest trading volumes, value, and open interest rate for the renewable futures contract product for the British pound, with 2,142 contracts worth $ 28 million traded since its launch last July, which reaffirms the desire of market participants to take advantage of murabaha opportunities.

The weekly Indian Rupee futures contract recorded the second highest trading value since the start of 2020, with average daily trading volume growing by 495 year-on-year.

“During October 2020 we recorded strong interest in currency products and precious metals, which confirms the strength of our products, and our ability to enhance liquidity and hedge risks for investors and market participants,” said the CEO of DGCX.

He continued, “As the DGCX approaches its 15th anniversary this month, we are on the right track to continue strong growth, providing our members and market participants with effective products that help them manage risks efficiently and meet their hedging and trading needs.”

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