The Dubai Gold and Commodities Exchange (DGCX) is witnessing a strong demand for forex trading as in July, the volumes for its G6 currency portfolio jumped 357 percent year-over-year.
Tuesday’s press release detailed that the three leading foreign exchanges for the month were Japanese yen, British pound, and euro as their average daily volume (ADV) surged by 767 percent, 267 percent, and 263 percent respectively.
Commenting on the growing demand, DGCX CEO Les Male sai: “The consistent growth of our trading volumes and product offering reflects our ongoing success and expanding member community. We pride ourselves on being a member-led exchange, introducing innovative contracts that meet the growing needs of our investors, particularly during periods of uncertainty like we are seeing today.”
The latest numbers echos the of the exchange as last month it posted 265.56 percent year-on-year volume jump, Finance Magnates reported.
Meanwhile, other trading platforms all around the world are also reporting a similar with a significant increase in market demand, however, a can also be seen.
Aggressively extending its offerings
The middle eastern exchange also launched FX rolling futures contracts for three currencies – euro, British pound, and Australian dollar against the US dollar – and also expanded its leading INR/USD contracts by adding a weekly contract for the same. are among the most popular offerings by the exchange.
“Before the end of the year, we plan on launching more unique products as the market evolves, providing further opportunities for investors and businesses to protect their positions against price fluctuations in today’s difficult climate,” the CEO added.
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