DGCX records strong start to 2015

DUBAI, 11th February, 2015 (WAM) — The Dubai Gold and Commodities Exchange (DGCX) recorded a robust start to the year, with a total of 1,176,111 contracts traded in January, an increase of 22 percent over December 2014.

The metals segment was the main driver of volume growth, growing 24 percent 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 percent month-on-month and 23 percent year-on-year.

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

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