DGCX daily volumes cross 100,000 contracts mark

Press release

Published April 18th, 2013 - 04:50 GMT

Dubai Gold & Commodities Exchange

The Dubai Gold and Commodities Exchange (DGCX) achieved total volumes of over 100,000 contracts in a single day for the first time this week. The Exchange set a new overall daily volumes record of 103,126 contracts on Tuesday, 16 April, 2013 surpassing the previous record of 83,862 contracts set on 12 April, 2013. The new record represents DGCX’s highest ever overall daily trading value of $3.8 billion.

DGCX Indian Rupee futures also registered its highest ever daily volume on Tuesday with 96,672 contracts valued at a record-breaking USD 3.5 billion. The contract has achieved sustained rapid growth over the past four years, driven by the growing international significance of the Indian Rupee and DGCX’s initiatives that have improved liquidity and on-screen spreads. The contract traded an average of over two billion dollars a day in the first quarter of 2013.

Background Information

Dubai Gold & Commodities Exchange

Dubai has historically been an international hub for the physical trade of not only gold, but also many other commodities and so the establishment of the Dubai Gold & Commodities Exchange (DGCX) was the next logical step for the region and the local economy. DGCX commenced trading in November 2005 as the regions first commodity derivatives exchange and has become today, the leading derivatives exchange in the Middle East.