iPhone | iPad
Android
Huawei
Course offers training in English language, interviewing skills, resume writing, and job search tips
KT APPDOWNLOAD
DGCX registers strong interest in silver futures
Dubai - Silver futures contract in February recorded a year-to-date volume growth of 348.35 per cent.
The strong interest in the precious metal follows global trends as well as market volatility which saw silver jump to an eight year high earlier in the month.
The Dubai Gold and Commodities Exchange (dgcx) registered a spike in its silver futures contract in February, recording a year-to-date volume growth of 348.35 per cent compared to the same period last year.
During this month, the strong interest in the precious metal follows global trends as well as market volatility which saw silver jump to an eight year high earlier in the month.
The DGCX recorded the third highest average open interest in its euro FX Rolling Futures Contracts since its launch, with 1,623 contracts as members looked to further manage their risk.
In addition, the DGCX registered a remarkable increase in its Indian Rupee future contracts trading at the end of the month, due to market volatility which saw the Indian Rupee have the biggest drop in 11 months, leading the DGCX to record a monthly Open Interest (OI) of 168,000 lots and total volume of 121,570 contracts on Friday Feb 26, 2021.
Moreover, the DGCX announced that it will soon launch a Pakistani Rupee Futures (PKR) contract, the first of its kind on any regulated exchange in the world. The contract, which is set to go live soon will enable market participants in the region to expand their trading opportunities in the Pakistani market.
Les Male, CEO of DGCX, said: “The DGCX is pleased to announce the preparation for launching PKR Futures Contract, in an effort to meet the ever-changing needs of our members. The launch follows extensive market research and feedback from our member base – and is the first of its kind solution on any regulated exchange. Pakistani nationals represent one of the largest expatriate populations in the United Arab Emirates, and this contract will provide market participants with greater opportunities and flexibility to hedge risks, as well as enhance their exposure to the Pakistani market. We are confident that this launch will play a significant role in strengthening DGCX Group’s growth strategy, and we remain committed to introducing even more innovative products and solutions that meet our customers’ demands.”
The contract size is 2,000,000 of base currency (PKR) and will be traded and cash settled in US Dollars based on publicly available reference price displayed on last trading day.
During the month of February, the DGCX Group also hosted a virtual webinar for its members and vendors, to share plans around its technology migration to Nasdaq. The migration will deliver a wide-range of enhanced technology solutions for all market participants — enabling members, partners, and their clients to manage their risk even more effectively. Further sessions will be held until the migration is completed in mid-2022. — business@khaleejtimes.com
More news from
Beloved to tourists as well as residents, these spots not only fulfil your food and shopping cravings, but also provide experiences in nature
It means that residents are within a quarter-hour walk or bike ride from everything they need to a lead a good life
The Minister of Youth shared some exercises — from walking to fitness and balance training — integral to his reconditioning programme
Pezeshkian's remarks came as the Islamic republic marked the anniversary of the September 2022 death of 22-year-old Iranian Kurd Mahsa Amini in police custody
Agents opened fire on a gunman who was spotted with an assault-style rifle hiding in bushes at one of Trump's Florida golf courses
The superfans stumping for Kamala Harris are not formally affiliated with the artist who unites them
From choosing secure connections to avoiding risky pop-ups, here's how you can protect your privacy