Rupee Volatility Keeps DGCX in The Limelight - Volumes Up in May
Monday,10/06/2013|08:41GMTby
Adil Siddiqui
Dubai’s commodity exchange thanks Indian rupee volatility for record trading volumes. The middle east's main commodity exchange saw volumes spike 70% in May 2013, with FX taking the lions share.
Dubai's premier commodity bourse, the Dubai Gold & Commodities Exchange (DGCX), is continuing its winning streak as the middle east's largest and most liquid exchange announces trading volume for May. The commodity and currency futures exchange saw an increase of 70% in average daily trade volumes YoY.
Official figures from the exchange's website show that the exchange recorded a total of 1,448,242 contracts, valued at $48.47 billion in May. In the same month in 2012, the exchange traded 853,191 contracts, valued at $32.67 billion.
“Rupee Volatility is the key attraction for traders on DGCX,” states Piyush Parekh CEO of VIBHS a DGCX member in a comment to Forex Magnates.
The Indian rupee is currently trading at 57.74 against the Greenback, reaching an all time high.
Blame FX
FX futures account for the bulk of trading volume at the exchange, the benchmark INR USD futures contract, the first outside India, has been the game changer for the exchange. over 50% of expatriate workers in Dubai are of Indian origin and 14% of exports and 17% of imports are from India, thus giving the worlds largest democracy top status as UAE’s largest single trading partner.
“Offsetting currency risk has been a dilemma for firms doing business with India for decades, the government was slow to offer suitable instruments but volumetric data both onshore and offshore for the INR futures contract shows how well the product is used among corporates,” explains Asif Rafique, a Dubai based trader who holds individual membership on the DGCX.
Of the 1.4 million > contracts traded in May, FX accounted for an aggregate of 1,398,956 currency contracts, up 88% from the same month last year. Indian Rupee futures continued its strong performance, registering a 67% increase, while Euro, Yen and Swiss Francs futures showed a substantial surge of 201%, 170% and 335% respectively.
The Mini - Less is More
The recently introduced DGCX Mini Indian Rupee futures emerged as a key performer, recording a significant growth of 248% from last month. The new contract has already attracted a wide range of participation from retail remitters, individual investors and small and medium-sized businesses (SMEs).
Vishal Kapoor CEO of xDirect a South Asian technology provider was bullish on the launch of the new contract, he feels it will open the market for retail investors and be more attractive than the NDF contract.
Gary Anderson CEO DGCX
Mr Kapoor adds: “For traders executing on local Indian exchanges like NSE or MCX, having the ability to trade on DGCX means longer trading sessions.”
Gary Anderson, Chief Executive Officer, DGCX, said, "DGCX's sustained volumes growth strongly reflects the Exchange's ability to meet the needs of the marketplace. In particular, the volume growth witnessed by our newest contract, the Mini-Indian Rupee futures, is further testament to the ability of the Exchange to provide market participants with innovative products that meet their hedging and investment needs.”
Dubai's premier commodity bourse, the Dubai Gold & Commodities Exchange (DGCX), is continuing its winning streak as the middle east's largest and most liquid exchange announces trading volume for May. The commodity and currency futures exchange saw an increase of 70% in average daily trade volumes YoY.
Official figures from the exchange's website show that the exchange recorded a total of 1,448,242 contracts, valued at $48.47 billion in May. In the same month in 2012, the exchange traded 853,191 contracts, valued at $32.67 billion.
“Rupee Volatility is the key attraction for traders on DGCX,” states Piyush Parekh CEO of VIBHS a DGCX member in a comment to Forex Magnates.
The Indian rupee is currently trading at 57.74 against the Greenback, reaching an all time high.
Blame FX
FX futures account for the bulk of trading volume at the exchange, the benchmark INR USD futures contract, the first outside India, has been the game changer for the exchange. over 50% of expatriate workers in Dubai are of Indian origin and 14% of exports and 17% of imports are from India, thus giving the worlds largest democracy top status as UAE’s largest single trading partner.
“Offsetting currency risk has been a dilemma for firms doing business with India for decades, the government was slow to offer suitable instruments but volumetric data both onshore and offshore for the INR futures contract shows how well the product is used among corporates,” explains Asif Rafique, a Dubai based trader who holds individual membership on the DGCX.
Of the 1.4 million > contracts traded in May, FX accounted for an aggregate of 1,398,956 currency contracts, up 88% from the same month last year. Indian Rupee futures continued its strong performance, registering a 67% increase, while Euro, Yen and Swiss Francs futures showed a substantial surge of 201%, 170% and 335% respectively.
The Mini - Less is More
The recently introduced DGCX Mini Indian Rupee futures emerged as a key performer, recording a significant growth of 248% from last month. The new contract has already attracted a wide range of participation from retail remitters, individual investors and small and medium-sized businesses (SMEs).
Vishal Kapoor CEO of xDirect a South Asian technology provider was bullish on the launch of the new contract, he feels it will open the market for retail investors and be more attractive than the NDF contract.
Gary Anderson CEO DGCX
Mr Kapoor adds: “For traders executing on local Indian exchanges like NSE or MCX, having the ability to trade on DGCX means longer trading sessions.”
Gary Anderson, Chief Executive Officer, DGCX, said, "DGCX's sustained volumes growth strongly reflects the Exchange's ability to meet the needs of the marketplace. In particular, the volume growth witnessed by our newest contract, the Mini-Indian Rupee futures, is further testament to the ability of the Exchange to provide market participants with innovative products that meet their hedging and investment needs.”
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We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
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This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
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In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
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🔹Why ultra-low latency must be proven with data, not buzzwords
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👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
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Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
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#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
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We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
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👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
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- What makes their trading product stand out
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- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
