The Dubai Gold and Commodities Exchange (DGCX) announced its May trading volumes today showing an increase of 24% from the previous month, reaching a total of 1,017,991 contracts, valued at US$ 31.5 billion.
As a segment, currencies were the main driver of volume growth, trading 923,491 contracts to record a month-on-month increase of 22%. Leading the currency pairs again, Indian Rupee Futures were up by 25% from last month, trading 809,285 contracts. Mini Indian Rupee futures traded 105,421 contracts, an increase of 4%.
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Volumes of SENXEX Futures (S&P Bombay Stock Exchange Sensitive Index) increased dramatically by 206%, reaching trading of 35,317 contracts. The SENXEX contract also recorded its highest ever daily volume of 7,744 Contracts on May 9, 2014. Gold futures reached volumes of 49,194 contracts, up 24% month-on-month and 9% year-on-year.
Gary Anderson, CEO of DGCX, commented at the announcement: “The heightened trading activity on DGCX, especially with the performance of some of the Exchange’s key contracts such as Gold, Indian Rupee and SENSEX, signifies the growing interest from market participants in using our diversified portfolio of derivative products to hedge against unpredictable price movements . As part of our strategic product plan, we are continuing to explore the introduction of new futures contracts in Emerging Market currencies and select commodities.”
Average daily volumes on the Exchange increased by 19% from the previous month to trade 46,272 contracts per day.