Driven by significant surges in gold and Indian rupee futures trading, June volumes on the Dubai Gold and Commodities Exchange (DGCX) jumped 231 per cent from last year to reach 889,131 contracts, the Exchange’s fourth consecutive monthly volumes record. June volumes represent a value of $32.92 billion.
DGCX ended H1 2012 with year-to-date volumes of 3,848,002 contracts, a substantial rise of 172 per cent from the previous year. Average daily volume (ADV) in the first half of the year stood at 29,829 contracts, a 167 per cent increase year-on-year.
Gold futures, the Exchange’s flagship product, grew 111 per cent in June from the previous year to aggregate 60,353 contracts. Heightened volatility and recent contract changes introduced by the Exchange were the key drivers of Gold futures growth. DGCX’s currency segment rose 248 per cent year-on-year to end the month at 804,554 contracts. Currency growth was led by Indian Rupee futures, which jumped 290 per cent from June last year, to reach 797,328 contracts. Copper futures continued its robust performance, since its launch in April, to total 21,391 contracts in the month.
Gary Anderson, Chief Executive Officer, DGCX, said, “We are delighted to have ended the first half of the year on a high note. The expansion of our product portfolio, combined with our initiatives to expand liquidity, helped significantly boost the Exchange’s growth momentum this year. Over the first half, we introduced strategic contract changes and new market makers to catalyse increased trading in many of our existing products. We look forward to introducing new initiatives to further consolidate this growth.”