DGCX January trade volumes up 22%

The Dubai Gold & Commodities Exchange (DGCX) recorded a robust start to the year with a total of 1,176,111 contracts traded in January, an increase of 22 per cent over December 2014, said a press statement on Wednesday.

The metals segment was the main driver of volume growth, growing 24% month-on-month with 55,661 contracts traded.

DGCX’s flagship product, Gold Futures led the growth, trading 47,206 contracts in January, up by 13% month-on-month and 23 per cent year-on-year.

DGCX’s currency segment grew 13 per cent year-on-year. The Mini Indian Rupee Futures grew 39 per cent year-on-year and 24 per cent from the previous month while Indian Rupee Futures grew 23 per cent month-on-month, the statement said.

The Hydrocarbon segment witnessed a 22 per cent growth from the previous year. WTI Futures led the growth, rising 21 per cent month-on-month and 13 per cent year-on-year.

Other new products also performed well with the MSCI Indian Rupee and US Dollars Indices growing 133 per cent and 189 per cent, respectively, and the Mini INR denominated in British Pounds and Euro, both introduced in November, rose 55 and 25 per cent, respectively.

Gaurang Desai, Interim CEO of DGCX, said: “Through 2015, we remain committed to exploring new opportunities with our Members and the market in order to diversify our product portfolio.”
 

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