DGCX November volumes rise 121 % year-on-year, currency futures represent 90% of total volume, Alpari gets license to trade for clients

DGCX currency futures were the main driver of the growth in trading volumes in November accounting for almost 90% of total volumes. Currency futures volumes increased 200 % on last year to touch 396,740 contracts in November 2011. Indian Rupee futures volumes in November reached 379,811 contracts, a substantial increase of 310% from last year’s November volumes.

End of year effect – ICAP’s forex volumes down 11%

Marking the usual end of year slow down in trading volumes, as many traders eliminate positions, which was already felt in October since the summer's peak - ICAP's fx volumes were down 11% year on year. Below you'll find ICAP's daily FX volumes averages month by month for the past 2 years. Excluding this summer's peak - overall trend is not positive.

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  • Year-to-date (YTD) volume stands at 3,629,409 contracts, a 106 % increase on 2010
  • Average daily volume in November stands at 19,270 contracts, a 101% rise on last year
  • November volumes on the Dubai Gold and Commodities Exchange (DGCX) grew 121 % year-on-year to reach 423,945 contracts, valued at US$ 17.15 billion. Year-to-date volume in 2011 also increased 106% on 2010 levels to reach 3,629,409 contracts valued at US$ 169 billion.
  • Average daily volume (ADV) in the month of November reached 19,270 contracts, a 101% increase from the same month last year.

DGCX currency futures were the main driver of the growth in trading volumes in November accounting for almost 90% of total volumes. Currency futures volumes increased 200 % on last year to touch 396,740 contracts in November 2011. Indian Rupee futures volumes in November reached 379,811 contracts, a substantial increase of 310% from last year’s November volumes. The new Indian Rupee options contract registered substantial growth in November rising 1048% from October to reach 2,055 contracts.

Stephen Gaterell, Chief Executive Officer, DGCX, said, “Over 2011, DGCX has seen a steady growth in trading activity and the rise in November volumes reflects a continuation of this growth momentum. These figures suggest a strong annual performance for DGCX in 2011. In an economic environment marked by strong volatility, DGCX has distinguished itself by its ability to offer the best tools in the region to manage currency and commodity price risk. We look forward to further expanding trading opportunities in commodity and currency derivatives in the region.”

Euro/Dollar increased 51% from October to aggregate 9,919 contracts in November while Sterling/Dollar grew 5% from last month to touch 2,055 contracts. Swiss Franc futures grew substantially by 337% from last month to reach 1,526 contracts while Australian Dollar and Canadian dollar declined 1% and 12 % to reach 867 and 263 contracts respectively.

Among precious metals, DGCX Gold futures registered strong growth in November rising 191.9% from the previous month to reach 22,194 contracts. Silver futures also increased 63% from last month to reach 3,341 contracts.

Meanwhile, three DGCX Members received licences from the Securities and Commodities Authority (SCA), in November, to conduct trading for clients. Members that received SCA licences included Alpari ME DMCC; Luxuris Commodities DMCC ; and Sharewealth Commercial Brokers LLC. 

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2 Comments

  1. Brad

    Hello Michael Greenberg can you please explain Headline — “Alpari gets license to trade for clients” as the article body its not mentioned what it is or means.

    Thanks
    Brad

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  2. MC

    by the way … DGCX only allows brokers to offer products that are available on their exchange … not other products.

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