FINANCIAL NEWS

37% increase in trading volumes at DGCX in July

04 Aug 2010

(MENAFN) Volumes on the Dubai Gold & Commodities Exchange (DGCX) recorded a 37% year-on-year increase in July, with 156,242 contracts traded, valued at $828 million.

Volumes were driven by the Exchange?s currency portfolio, and in particular the Indian Rupee futures contract, which accounted for 82,750 and 23,514 contracts respectively in July, a rise of 311% and 307% on a year ago.

Total year-to-date volumes in 2010 rose 46% compared with the previous year to reach 1.09 million contracts as at July end. Meanwhile, year-to-date average daily volumes increased 49% to 7,419 contracts.

The DGCX Indian Rupee futures contract saw its second straight record month in July with 23,514 contracts recorded; almost double the volume in June. Euro/Dollar and Sterling/Dollar rose 761% and 8% respectively year-on-year, with 44,830 and 9,487 contracts achieved. Particularly noteworthy was the performance of the recently introduced currency contracts, Swiss Franc, Canadian dollar and Australian dollar, all of which approximately doubled in volume from June. Gold and WTI crude oil futures fell 16% and 39 % in July compared to a year ago with trading volumes of 54,139 and 17,987 contracts.

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