562% growth in daily trading for the “Indian Rupee Quinto” contracts

Dubai Gold and Commodities registered 179.5 thousand contracts during April

The Stock Exchange confirmed that the silver futures contracts have maintained their strong performance since the beginning of 2021. From the source

The Dubai Gold and Commodities Exchange (DGCX) announced a monthly open interest rate of 179,554 contracts, in April, as the “Indian Rupee Quanto Futures” contract recorded an annual growth of 562% in the average daily trading volume, in light of the desire of market participants to hedge against risks. Amidst unstable market conditions, the trading volume of the new "Pakistani Rupee Futures" contract reached 180 contracts, valued at $ 2.35 million.

The Stock Exchange launched these contracts in mid-April, to be the first contracts of its kind that are traded on any licensed exchange in the world.

The exchange reported that silver futures contracts have maintained their strong performance since the beginning of 2021, as the exchange witnessed a significant increase in trading of these contracts during the month of April, with the volume of its trading growing by 146%, since the beginning of the year until now, compared to the same period last year.

Dubai Gold and Commodities pointed out that, in April, it obtained approval from the Israel Securities Authority, allowing Israeli companies the opportunity to offer their various products and services, including futures and options contracts that cover contracts for precious metals, energy, currency and stocks to market participants. The eligible investors are within Israel.

The Dubai Gold and Commodities Exchange also signed a Memorandum of Understanding with the International Company for Islamic Financial Services, to cooperate in the future in developing derivative products and Islamic commodities, in addition to promoting the gold contract in compliance with Islamic Sharia at the Dubai Gold and Commodities Exchange, which meets the requirements of owning gold stipulated in the provisions of Islamic law. .

The CEO of the Dubai Gold and Commodities Exchange, Not Mel, said that “the Dubai Gold and Commodities Exchange Group witnessed many important achievements last month, which strengthens its position to move forward in the future.” "The qualified Israeli, who trades for her own account in the market, joins the exchange's membership base, and benefits from the services and trading platform that it provides."

He added, "In response to market demand, the Stock Exchange launched a forward contract for the Pakistani rupee, the first of its kind in the world, and signed a memorandum of understanding with the International Company for Islamic Financial Services to develop Islamic contracts and derivatives for market participants."

Not inclination:

"The stock exchange witnessed important achievements last month, which strengthens its position to move forward in the future."

Follow our latest local and sports news, and the latest political and economic developments via Google news