DGCX Gold Volumes grow 14% in December

GMT 09:15 2015 Monday ,19 January

Arab Today, arab today DGCX Gold Volumes grow 14% in December

Dubai - WAM

Gold trading volumes on the Dubai Gold and Commodities Exchange, DGCX, reached 41,945 contracts in December, registering a significant growth of 14% year-on-year.
In December 2014, DGCX volumes witnessed growth of 25% over the same period the previous year, recording total monthly volume of 962,438 contracts valued at $27.84 billion. The Exchange’s average daily volume, ADV, grew 19% year-on-year reaching 45,830 contracts in December 2014.
The currency segments led the year-on-year growth trading 897,116 contracts, an increase of 25% from December 2013. Indian Rupee Futures, which recorded the 3rd highest Average Daily Open Interest during the month of December, grew 21% from the same period in 2013, while the Mini Indian Rupee Future grew 69%.
The DGCX’s metals segment recorded a 16% increase year-on-year while the hydrocarbon sector and the equity indices segment grew 45% and 95% respectively.
2014 saw DGCX further diversifying its product portfolio with the introduction of several new contracts. Early in the year, DGCX launched the region’s first ever Plastics contract. Further expanding its emerging market product portfolio, the Exchange re-introduced the Indian Rupee Option contract, launched two MSCI India Index contracts and listed two new pairs of Mini Indian Rupee Cross Currency Futures. The Exchange ended the year on a high note, launching three new currency contracts, Russian Ruble Futures, Korean Won Futures and South African Rand Futures.
Gaurang Desai, Interim CEO of DGCX, said, "In 2014, DGCX made a big push to further expand its emerging market currency and index based-products and also introduce unique products such as the Plastics Futures. The Exchange also upgraded its technology to provide additional functionalities and enhanced efficiencies to the member community. The upgrade also made it possible for DGCX to offer trading, clearing and settlements in different currencies, including UAE Dirhams."


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