Thursday, Feb 03, 2011
Gulf News
244,385 contracts valued at Dh42.97b gives the exchange a robust start to the new trading year
Dubai: The Dubai Gold and Commodities Exchange (DGCX) achieved a robust start to 2011, with a record volume of 244,385 contracts valued at $11.7 billion (Dh42.97 billion) in the first month of the year.
This is the highest monthly volume for the exchange since its inception in 2005.
January volumes were driven by strong member participation in currency, gold and crude oil futures, recording volumes of 197,511, 39,987 and 5,594 contracts respectively in January.
DGCX Indian rupee futures continue to achieve record volumes in the new year with the exchange trading 168,088 contracts in January, a substantial increase of 71 per cent over December and 23 times more than in January 2010.
Euro/dollar, sterling/dollar, yen/dollar and Australian/dollar futures also registered strong trading activity in January, representing the consistent participation and benefits of trading forex futures on DGCX. The contracts recorded volumes of 13,387, 11,008, 1,216 and 1,998. However, trading in Canadian dollar and Swiss franc futures fell 45 and two per cent, respectively, in January.
Due to increasingly high volumes and consistent member participation in the past year, the average daily volume has reached 11,637, up 51 per cent compared to last year.
Staff Report
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