DGCX records a robust start to 2015

UNITED ARAB EMIRATES February 11 2015 5:11 PM

DUBAI (Scrap Register): The Dubai Gold & Commodities Exchange (DGCX) has recorded a robust start to the year, with a total of 1,176,111 contracts traded in January, an increase of 22% over December 2014.

The metals segment was the main driver of volume growth, growing 24% month-on-month with 55,661 contracts traded. DGCX’s flagship product, Gold Futures led the growth, trading 47,206 contracts in January, up by 13% month-on-month and 23% year-on-year.

DGCX’s Currency segment grew 13% year-on-year. The Mini Indian Rupee Futures grew 39% year-on-year and 24% from the previous month while Indian Rupee Futures grew 23% month-on-month. The Hydrocarbon segment witnessed a 22% growth from the previous year. WTI Futures led the growth, rising 21% month-on-month and 13% year-on-year.

Other new products also performed well with the MSCI Indian Rupee and US Dollars Indices growing 133% and 189% respectively, and the Mini INR denominated in British Pounds and Euro, both introduced in November, rose 55% and 25% respectively.

Gaurang Desai, Interim CEO of DGCX said: “We have had a promising start to the year, particularly with the performance of some of the Exchange’s more recent contracts such as the two new pairs of Mini Indian Rupee Cross Currency Futures and MSCI Futures. Through 2015, we remain committed to exploring new opportunities with our Members and the market in order to diversify our product portfolio. In addition to product launches, we are also working on further growing and expanding our community of members and participants.”