Another month, another record for the Dubai Gold & Commodity Exchange (DCGX). Following last year’s stellar performance, the DGCX continues to roll during 2013. After achieving monthly volume records during January, the exchange repeated the effort during February as they achieved another all-time high.
During the month, a total of 1.15 million contracts were traded, valued at $44.16 billion. The bulk of activity was in the DGCX’s Indian Rupee contracts which saw record volume of 1,083,120 contracts. February 28th also marked the highest single day of trading as 82,197 contracts were traded.
DGCX Sets Second Consecutive Monthly Volume Record in 2013
• Exchange registers monthly volume record of 1.15 million contracts, valued at $ 44.16 billion
• Indian Rupee futures establishes highest ever monthly volume of 1,083,120 contracts
The Dubai Gold and Commodities Exchange (DGCX) built on its robust start to the year, setting another monthly volume record of 1,157,340 contracts, valued at $44.16 billion, in February. The month also saw the highest ever average daily value of contracts of $2.21 billion per day.
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February also witnessed the highest ever daily volume of 82,197 contracts on 28 February, 2013 and the highest ever average daily volume of 57,867 contracts.
Currencies remained the strongest performing segment, trading a total of 1,100,392 currency contracts, up 126% from the same month last year. Indian Rupee futures sustained its exceptional record-breaking growth momentum, registering its highest ever monthly volume of 1,083,120 contracts, valued at $40.09 billion. The contract also recorded its highest ever average daily value of $ 2.01 billion contracts in the month.
Gary Anderson, Chief Executive Officer, DGCX, said, “DGCX’s sustained record-breaking performance in the first two months of 2012 has been driven by the Exchange’s initiatives to generate greater liquidity and tighter spreads in its contracts. Our key contracts like Indian Rupee futures and Gold futures are attracting a growing global diversity of participants. We remain committed to further enhancing our product portfolio for our Members and continue to explore new products and services to better support the increasingly sophisticated hedging and investment needs of market participants.”
Among precious metals, DGCX Gold futures recorded 49,048 contracts, a year-on-year increase of 77% from the same month last year. Silver futures also experienced a strong volume growth of 38% from January last year.
Among other currency contracts, Euro and Yen futures saw respective year-to-date volume growth of 369% and 135% from last year.