DGCX Year to Date volume crosses one million mark |
|
Record third quarter volume confirms growth
Dubai, October 6, 2008: Dubai Gold & Commodities Exchange (DGCX)Dubai Gold & Commodities Exchange (DGCX)
today announced that year to date volume has for the first time, passed a record-breaking one million contracts, up 52 per cent on last year. Higher trading activity was led by currencies, precious metals and crude oil. Valued at US$ 52 billion, YTD volumes at 1,020,000 demonstrate increasing investor preference for DGCXDGCX. The milestone was supported by the recent record performance in the third quarter with 385,000 contracts traded, valued at US$ 20.5 billion.
Malcolm Wall Morris, Chief Executive, Dubai Gold & Commodities ExchangeDubai Gold & Commodities Exchange, said that intensified volatility in the global financial and equity markets has led market participants to shift resources to areas such as commodities and currencies. "In the current high risk climate, commodity derivatives are offering the opportunity to diversify and achieve a balanced portfolio.
During this time of economic uncertainty and increased counterparty credit risk, the record third quarter volume at DGCXDGCX also endorses the benefits of transacting and clearing transactions via the well regulated and low risk environment of an Exchange and clearing house, Wall Morris said. Conducting business on DGCXDGCX enables market participants to reduce their exposure to operational and counterparty risk," he added.
Gold futures rose by 37 per cent YTD (January-September), reaching 695,000 contracts, whilst the average daily volume for Gold futures stood at 3,200 contracts in September, up 51 per cent on September 2007. In currencies, the Euro led the growth with 94,000 contracts YTD, up 240 per cent compared with the corresponding period last year.
-Ends-
About DGCXDGCX:
Dubai Gold and Commodities Exchange (DGCXDGCX) is a fully automated, online commodities exchange. Strategically located in Dubai, the exchange is the first international commodities derivatives marketplace in the time zone between Europe and the Far East. DGCXDGCX is an initiative of the Dubai Multi Commodities Centre (DMCC), Financial Technologies (India) Limited and Multi Commodity Exchange of India Limited (MCX).
Further Information:
Claire Miller
Head of Marketing
Claire.miller@dgcx.ae
Tel: +971 (0)4 361 1625
© Press Release 2008
from Weber Shandwick MENA
Comment on this article 
Loading ...-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another’s privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Stories
Companies
| Company Name | Country | Industry |
| Abu Dhabi Investment Council | UAE | Investment Firms and Funds |
| Saudi Telecom | Saudi Arabia | Telecommunications Services |
| Abu Dhabi Investment Company | UAE | Investment Firms and Funds |
| Al Rajhi Investment Group | Saudi Arabia | Investment Firms and Funds |
| Al Zarooni Group | UAE | Multi-line |
| Qatar Investment Authority | Qatar | Investment Firms and Funds |
| Consolidated Contractors Company | Overseas | Construction and Design |
| Dubai Chamber of Commerce and Industry | UAE | Associations |
| Saudi Binladin Group | Saudi Arabia | Construction and Design |
| Qatari Diar Real Estate Investment Company | Qatar | Landlords and Developers |
Projects
| Project Name | Country | Sector |
| IPIC - Abu Dhabi Crude Oil Pipeline (ADCOP) | UAE | Oil and Gas |
| Dubai RTA - Dubai Metro - Purple Line | UAE | Infrastructure |
| Qatar Foundation - Sidra Hospital | Qatar | Real Estate |
| Emirates Aluminium (EMAL) - Smelter Complex | UAE | Industry |
| Ras Tanura Integrated Refinery and Petrochemicals Complex | Saudi Arabia | Oil and Gas |
| Qatalum Aluminum Smelter | Qatar | Industry |
| ADCO - SAS Field Development | UAE | Oil and Gas |
| Nakheel - Dubai Waterfront | UAE | Real Estate |
| KNPC - Al Zour Refinery | Kuwait | Oil and Gas |
| Abu Dhabi Municipality - Salam Street and Mina Road Development | UAE | Infrastructure |