DGCX volumes rise 63% in September

Volumes on the Dubai Gold  and Commodities Exchange (DGCX) recorded a 63 per cent year-on-year increase, with 156,740 contracts traded, valued at $7.85 billion in September.
 
With trading activity on the exchange acquiring greater momentum following the end of Ramadan and the holiday season, September volumes also rose 41 per cent.

DGCX currency futures continued to be the mainstay of growth accounting for approximately 70 per cent of total monthly volumes.  Currency futures volumes grew 304 per cent on the same period last year to reach 112,839 contracts in September 2010.
 
DGCX Indian Rupee futures continued its exceptional run registering its fourth straight monthly volume record with 69,917 contracts traded, an increase of 61 per cent and valued at  $3 billion. Euro/Dollar, Sterling/Dollar and Yen/Dollar saw volumes of 21,123, 10,786 and 2,820 contracts respectively. Among the new currency pairs, Australian Dollar, Canadian Dollar and Swiss Franc futures registered volumes of 2,298, 2,581 and 3,314, with month-on-month growth of 102 per cent, 254 per cent and 182 per cent respectively. Volumes for Gold and Silver futures were 35,202 and 1,642, while WTI crude oil futures volume was 7,057 in September.

“The growth in September volumes and the renewed momentum after Ramadan reflects the increased interest we are witnessing globally in trading DGCX contracts, especially in the currency futures segment.  The 63 per cent year on year increase in monthly volumes ahead of the final quarter augurs well for a strong end of year,” said Eric Hasham, Chief Executive Officer, DGCX.

Total year-to-date volumes on DGCX stood at 1,358,733 contracts at the end of September, a 37 per cent year-on-year increase. September witnessed an average daily volume of 7,464 contracts.