DGCX May volumes rise 70%

The Dubai Gold and Commodities Exchange (DGCX) registered yet another monthly volume record of 1,448,242 contracts, valued at $ 48.47 billion, in May. Monthly trading volumes on the Exchange leapt 70 per cent from the same month last year.

Currencies accounted for the lion share of the Exchange’s May volumes, reaching an aggregate of 1,398,956 currency contracts, up 88 per cent from the same month last year. Indian Rupee futures continued its robust performance, registering a 67 per cent increase, while Euro, Yen and Swiss Francs futures showed a substantial surge of 201 per cent, 170 per cent and 335 per cent respectively.

The recently introduced DGCX Mini Indian Rupee futures emerged as a key performer, recording a significant growth of 248 per cent from last month.  The new contract has already attracted a wide range of participation from retail remitters, individual investors and small and medium-sized businesses (SMEs).

Gary Anderson, Chief Executive Officer, DGCX, said: “DGCX’s sustained volumes growth strongly reflects the Exchange’s ability to meet the needs of the marketplace.  In particular, the volume growth witnessed by our newest contract, the Mini-Indian Rupee futures, is further testament to the ability of the Exchange to provide market participants with innovative products that meet their hedging and investment needs. In addition, with the implementation of EOS Trader Platform, an increasingly diverse range of global participants are using the DGCX platform. We remain committed to further enhancing our product portfolio and exploring new products and services to better support the increasingly sophisticated requirements of the market“

Year-do-date volumes (YTD) on the Exchange rose 107 per cent to reach 6,123,190 contracts in 2013. Among precious metals, DGCX Gold futures recorded a YTD growth of 16 per cent, trading 227,953 contracts. Among currency contracts, Indian Rupee, Euro and Yen futures witnessed YTD volume growth of 110 per cent, 277 per cent and 80 per cent respectively from last year.

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