Wednesday, Feb 06, 2013
DUBAI (Zawya Dow Jones)--Trading volumes on the Dubai Gold and Commodities Exchange, or DGCX, more than doubled on year in January, notching up over a million contracts as currency futures pushed growth.
January volumes at 1,108,614 contracts, worth $43.55 billion, were the highest ever monthly volumes for the exchange, DGCX said in an emailed statement Wednesday.
The popular Indian rupee futures posted its highest ever monthly volume of 982,358 contracts, valued at $36.14 billion, the exchange operator said. The INR futures contract also recorded the highest number of daily trades at 48,901 contracts on January 17, it added.
Gary Anderson, the chief executive officer at DGCX, said: "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."
Trading in gold futures also rose 89% on year in January to 57,788 contracts.
In November, Chief Business Officer Samir Shah told Dow Jones Newswires in an interview he expects to more than double trading volumes in gold futures contracts this year, reflecting growing demand from retail investors and arbitragers.
Write to Brinda Darasha at brinda.darasha@dowjones.com
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(END) Dow Jones Newswires
06-02-13 0753GMT
