Dubai ​- Mubasher: The Dubai Gold and Commodities Exchange (DGCX) has registered its best month ever in May, recording a volume of 2,163,598 lots at a value exceeding $46.11 billion, according to a recent statement.

In May an average of 94,069 contracts was exchanged per day showing a year-on-year increase of 51%.

The world’s only exchange-traded Shari’ah Compliant Spot Gold contract (DGSG) also continued to shine, with over 488 kilograms of gold worth $20.72 million executed since its listing on DGCX on 29 March.

DGCX has traded over 9.3 million contracts so far this year, up 39% from 207, with a notional value exceeding $210 billion.

“The best performers in May were the Indian Rupee product suite, which saw Rupee Mini Futures record its highest Average Open Interest (AOI) of 108,986 contracts, and the G6 currency pairs, which saw Euro Futures record its highest monthly volume since November 2012 with 60,394 contracts and recording its highest AOI of 2,659,” the statement added.

In May, DGCX has upgraded its integrated trading and clearing solution from Cinnober Financial Technology to the latest version of their signature TRADExpress platform.

The upgrade step was undertaken to endorse and speed up business development capabilities even further and to benefit from a more refined trade and market data protocol, leading to improved bandwidth usage.