DGCX September volumes increase 63% year on year
Volumes on the Dubai Gold & Commodities Exchange (DGCX) recorded a 63% year-on-year increase, with 156,740 contracts traded, valued at US $7.85 billion in September. With trading activity on the Exchange acquiring greater momentum following the end of Ramadan and the holiday season, September volumes also rose 41% on last month.
DGCX currency futures continued to be the mainstay of growth accounting for approximately 70% of total monthly volumes. Currency futures volumes grew 304% on the same period last year to reach 112,839 contracts in September 2010.
DGCX Indian Rupee futures continued its exceptional run registering its fourth straight monthly volume record with 69,917 contracts traded, an increase of 61% on last month and valued at US $3 billion. Euro/Dollar, Sterling/Dollar and Yen/Dollar saw volumes of 21,123, 10,786 and 2,820 contracts respectively. Among the new currency pairs, Australian Dollar, Canadian Dollar and Swiss Franc futures registered volumes of 2,298, 2,581 and 3,314, with month-on-month growth of 102%, 254% and 182% respectively. Volumes for Gold and Silver futures were 35,202 and 1,642, while WTI crude oil futures volume was 7,057 in September.
Eric Hasham, Chief Executive Officer, DGCX, said, "The growth in September volumes and the renewed momentum after Ramadan reflects the increased interest we are witnessing globally in trading DGCX contracts, especially in the currency futures segment. The 63% year on year increase in monthly volumes ahead of the final quarter augurs well for a strong end of year."
Total year-to-date volumes on DGCX stood at 1,358,733 contracts at the end of September, a 37% year-on-year increase. September witnessed an average daily volume of 7,464 contracts.
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