Dubai Gold and Commodities Exchange (DGCX) achieved another milestone as volumes on the Exchange exceeded 300,000 contracts in July 2011. The exchange saw the highest ever monthly volume trade of 310,990 contracts in July, valued at US $15.05 billion, an increase of 99% from last year.
Increased trading activity throughout July saw average daily volume of 14,809 contracts with an underlying value of US $717 million, up by 99% year-on-year, with the highest ever Average Daily Total Open Interest of 15,303 contracts in July surpassing the previous month’s record of 10,943 contracts.
Year- to-date trading in Indian Rupee futures reached 1,172,852 contracts in July, reflecting a remarkable growth of 1382% over last year.
Currency futures remain the key driver of this volume growth, trading 278,269 contracts in July, an increase of 236% from the same period last year. Year-to-date volumes in currency trading rose 98%, to touch 1,383,942 contracts.
Ahmed Bin Sulayem, Chairman of DGCX said: “Following the excellent performance in H1, DGCX has set another remarkable record in July 2011, crossing the 300,000 mark, which is the highest ever monthly volume traded in the history of the exchange. This milestone is indeed a promising start to the trading in the second half of the year.”
The currency segment showed strong trading across all contracts with volumes for Euro Dollar, Yen Dollar, Australian Dollar, Canadian Dollar and Swiss Franc futures reached 15,374, 1,179, 4,496, 1,759 and 2,689 contracts respectively, in July or a respective growth of 30%, 181%, 59%, 132% and 0.2%over the previous month.
DGCX's precious metals segment has shown a year-to-date increase of 1 % over the same period last year with gold and silver futures trading 282,837 and 32,213 contracts respectively.
In July, DGCX announced the launch of the INR Options Contract on September 26, 2011. DGCX will hold workshops on the INR Options contract prior to its launch. The dates of these workshops will be announced in due course.
