The Dubai Gold and Commodities Exchange (DGCX) has reported its January trading metrics. A leading player in gold and Indian rupee trading, volumes grew 22% in January to 1,176,111 contracts compared to December, and 13% above the same period last year.
Month-over-month volume growth was experienced along all of the DGCX’s units, with gold and newly launched index products outperforming. Currency trading, which is dominated by Indian rupee trading, grew 13% from the same period last year. Overall metals trading, of which volumes are composed primarily of gold, experienced 24% growth to 55,661 contracts compared with December.
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Among newly listed products, the DGCX highlighted the MSCI Indian rupee and US dollars indices where volumes grew 133% and 189% respectively. Also, trading in the Mini Indian Rupee, denominated in British pounds and euro, both introduced in November, rose 55% and 25% respectively.
Gaurang Desai, Interim CEO of DGCX, commented on the performance: “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.”