DCGX oil futures post record first-day trading volumes

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The Dubai Gold and Commodities Exchange (DGCX) launched West Texas Intermediate (WTI) light sweet crude oil and Brent crude oil futures contracts on May 27, posting the biggest first-day volumes for any DGCX contract.

More than 2,800 contracts traded on WTI and Brent, with a value of $370 million, exceeding first day volumes for the exchange's silver futures of 1,158 contracts in March 2006.

A fee waiver will be in place for the two contracts until August 26. They will trade from 0830 to 1130 loca