Indian Rupee Trading Dominates as DGCX Reports Record Volumes in 2012
We reported throughout 2012 the great growth at the Dubai Gold & Commodities Exchange (DGCX). The exchange has just released its December and full year 2012 figures. For 2012, the exchange traded 900,602 contracts which was a 117% YoY increase. During the month, currency trading dominated overall volumes, but the precious metal’s segment continues to experience rapid growth, as 38,052 contracts were traded, a 374% YoY gain.
For 2012, a total of 9,601,553 contracts were traded, a 137% increase from 2011. Currencies comprised the bulk of trading at 8,880,403 contracts, with Indian Rupee volumes accounting for an astonishing 8,638,993 of the total. According to the DCGX, the exchange accounts for 30% of global exchange traded value of Indian Rupee futures contracts.
Gary Anderson, CEO of DGCX said: "DGCX's exceptional performance in 2012 has been driven by its ability to enhance Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term in its contracts and widen investor participation. Trading on DGCX has benefited from the rising profile of derivatives as an asset class among regional investors and the growing need to manage currency and commodity price risk in a volatile environment. Over 2013, we will look to expand our product portfolio and further enhance our contracts based on market feedback. With the development of our new Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term in partnership with global technology provider Cinnober, we are well positioned to meet growing demand."
Looking toward 2013, after hitting records in every conceivable metric during 2012, the test comes this year for the exchange. After achieving a record month during October of 1,057,508 contracts, trading volumes subsided to end the year. While this could be the result of the traditional ‘end of the year’ slow period, it’s worth noting that both the ICE and CME Group launched competing Indian Rupee products during Q4 2012. As such, it will be interesting to see how the DCGX responds to the increased competition.
We reported throughout 2012 the great growth at the Dubai Gold & Commodities Exchange (DGCX). The exchange has just released its December and full year 2012 figures. For 2012, the exchange traded 900,602 contracts which was a 117% YoY increase. During the month, currency trading dominated overall volumes, but the precious metal’s segment continues to experience rapid growth, as 38,052 contracts were traded, a 374% YoY gain.
For 2012, a total of 9,601,553 contracts were traded, a 137% increase from 2011. Currencies comprised the bulk of trading at 8,880,403 contracts, with Indian Rupee volumes accounting for an astonishing 8,638,993 of the total. According to the DCGX, the exchange accounts for 30% of global exchange traded value of Indian Rupee futures contracts.
Gary Anderson, CEO of DGCX said: "DGCX's exceptional performance in 2012 has been driven by its ability to enhance Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term in its contracts and widen investor participation. Trading on DGCX has benefited from the rising profile of derivatives as an asset class among regional investors and the growing need to manage currency and commodity price risk in a volatile environment. Over 2013, we will look to expand our product portfolio and further enhance our contracts based on market feedback. With the development of our new Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term in partnership with global technology provider Cinnober, we are well positioned to meet growing demand."
Looking toward 2013, after hitting records in every conceivable metric during 2012, the test comes this year for the exchange. After achieving a record month during October of 1,057,508 contracts, trading volumes subsided to end the year. While this could be the result of the traditional ‘end of the year’ slow period, it’s worth noting that both the ICE and CME Group launched competing Indian Rupee products during Q4 2012. As such, it will be interesting to see how the DCGX responds to the increased competition.