DGCX volumes surge 24 per cent in May
Dubai, June 5, 2014
The Dubai Gold and Commodities Exchange (DGCX) has recorded a 24 per cent growth in May as compared to the previous month, aggregating more than one million contract at $31.5 billion.
The currency segment was the key driver of volume growth, trading 923,491 contracts to record a month-on-month increase of 22 per cent, said a statement.
Among the currency pairs, Indian Rupee Futures grew 25 per cent, trading 809,285 contracts, while Mini Indian Rupee futures traded 105,421 contracts, registering an uptick of four per cent.
The volumes on Sensex Futures rose significantly by 206 per cent, trading 35,317 contracts, while Gold Futures registered trade of 49,194 contracts, growing 24 per cent month-on-month and nine per cent year-on-year.
Gary Anderson, CEO, said: “The heightened trading activity on DGCX, especially with the performance of some of the exchange’s key contracts such as Gold, Indian rupee and Sensex, signifies the growing interest from market participants in using our diversified portfolio of derivative products to hedge against unpredictable price movements . As part of our strategic product plan, we are continuing to explore the introduction of new futures contracts in Emerging Market currencies and select commodities.”
The average daily volumes on the exchange grew 19 per cent from the previous month to trade 46,272 contracts per day. - TradeArabia News Service