The Dubai Gold and Commodities Exchange (DGCX) in August exchanged more than 3 million contracts in a month for the first time ever, crushing its previous record of 2.38 million contracts set in July. The 3.22 million lots traded and cleared in August were esteemed at USD 52.72 billion, additionally an all time record.

The Exchange also recorded its most astounding ever daily volume on August 5th, trading over 220,000 contracts with a notional value of USD 3.86 billion. Average Daily Volumes (ADV) last month reached 146,502 per day, up 54.97% year-on-year (Y-O-Y).

The best performing asset class in August was the Indian Rupee (INR) product suite, breaking all past volume records. The best performer within the product suite was the INR Quanto Futures, the index pricing of the Indian Rupee US dollar currency pair, which registered its best month ever with a total of 1,585,110 contracts traded. DGCXs flagship Gold Futures product also witnessed strong interest and participation, trading 58,421 contracts last month, up 274.04% Y-O-Y.

Les Male, CEO of DGCX, remarked: exchanging over three million contracts in a month and 220,000 contracts in a single day are significant achievements for the DGCX Group, and attests to our growing marketplace and sustained investor confidence in the Exchange. These records came as investors looked for new hedging tools in a particularly volatile period, in which the ongoing US and China trade war stoked fears of an economic recession, and Indian Prime Minister Narendra Modi reported that his government would withdraw Kashmirs special constitutional status.

As geopolitical strains continue to simmer, the DGCX Group keeps on offering investors access to a wide range of products that help manage hazard on a robust, completely managed and secure platform, and we stay on track to break our past Annual Volumes Record of 22.3 million contracts that we set a year ago.