DGCX Volume Hits Monthly
High in November

DUBAI - Total volume on Dubai Gold & Commodity Exchange, or DGCX, rose to a monthly high in November of 190,554 contracts, increasing 345 per cent compared to last year — reflecting the growing interest in trading commodity and currency derivatives on a regulated Exchange.

By Staff Report

Published: Thu 3 Dec 2009, 11:16 PM

Last updated: Thu 2 Apr 2015, 3:46 AM

Total commodity and currency futures transactions on DGCX had an underlying value of $10.86 billion in November, the second highest monthly value achieved since inception in November 2005.

The exchange achieved an Average Daily Volume of 9,528 in November compared with 2,140 contracts in the same period last year.

November’s volume surpassed the previous high of 186,842 contracts achieved in July 2008 and the recently monthly high of 162,969 contracts in June 2009. Trading volume on the Exchange was driven by currency and gold futures, which grew by 379 per cent and 233 per cent respectively.

While volume grew across all products, gold was the largest contributor, accounting for 39 per cent of total transactions. The strong performance of DGCX commodity and currency derivatives in November is further evidence that market participants are seeing the benefits of these alternative asset classes in the current economic environment. Furthermore, with the gold price volatility and record highs of late, many participants are choosing the precious metal futures contracts to hedge their risk as well as diversify their portfolios.

Gold and WTI crude oil futures recorded volume of 73,458 and 21,211 contracts in November, whilst total currency futures volume was 89,695 contracts in the same month, led by Euro/Dollar and Sterling/Dollar at 47,337 and 24,743 contracts respectively. Year-to-date volume reached 1,322,800 contracts as end of November, with current open interest standing at 3,000 contracts.


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