DGCX in new open interest milestone
Dubai, May 8, 2011
Dubai Gold & Commodities Exchange (DGCX), in a significant milestone, has crossed the open interest (OI) of 10,000 lots for its contracts in May. The value of the open interest is $500 million.
DGCX is the region’s first derivatives exchange and the only one allowing participants to clear and settle transactions within the region.
Open interest is the total number of outstanding futures contracts held by market participants and is regarded as a leading performance indicator in the industry.
It also represents the health of a Market and trust of market participants in the credibility of DGCX's clearing house, the DCCC, said a statement from DGCX.
The milestone achieved on May 5 is a significant testament of the rapidly growing confidence of commercial parties and investors in trading and holding positions in DGCX precious metals, energy and currency products, it added.-TradeArabia News Service