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24 April 2024

DGCX records 1.1m contracts

By Staff

The Dubai Gold and Commodities Exchange (DGCX) registered a monthly volume of 1,108,614 contracts in January, a year-on-year increase of 133 per cent.

January 2013 volumes, its highest ever monthly volumes, represent a value of $43.55 billion. The Exchange also recorded its highest ever average daily volume and value of contracts at 52,791 contracts and $2.07 billion per day respectively in January.

Currency futures were a key driver of growth, registering its highest ever monthly volume of 1,039,602 contracts, up 135 per cent from January 2012. Sustaining its robust performance in the last year, Indian Rupee futures saw brisk trading, registering its highest ever monthly volume of 982,358 contracts, valued at $36.14 billion.

The Indian Rupee futures contract also recorded its highest ever monthly value of $36.14 billion and the highest number of daily trades at 48,901 contracts on January 17. The precious metals sector also saw substantial growth in January led by Gold Futures, which registered an increase of 89 per cent from January 2012 to aggregate 57,788 contracts.

Gary Anderson, Chief Executive Officer, DGCX, said: “We are delighted to start 2013 with record-breaking monthly volumes. DGCX’s sustained high growth is testament to its ability to provide market participants with innovative investment and hedging tools and a highly supportive and secure trading and clearing environment. Our products are appealing to an increasingly wider range of retail and institutional clients both regionally and internationally and in 2013 we look forward to further widening our customer base by enhancing the product portfolio and value we offer the marketplace.”