DGCX ends robust first half of the year on record breaking note

Press release

Published July 4th, 2011 - 09:37 GMT

DGCX's precious metals products have shown increased participation on last year

DGCX today announced that its trading volumes in the first half (H1) of 2011 hit an all-time record of 1,417,223 contracts, valued at US $69.1 billion, a 52% growth from last year.

June witnessed the highest ever monthly volume of 268,390 contracts, valued at US $12.96 billion, an increase of 40% from last year. DGCX achieved numerous volume records with average daily volume up 40% year-on-year to stand at 12,200 contracts, worth US $589 million, another all-time record and the highest ever Average Daily Total Open Interest of 10,943 contracts in June.

June volumes were driven largely by a surge in currency trading. Both H1 and June volumes in the currency segment hit all-time records. H1 currency volumes rose 80 % to reach 1,105,673 contracts while June currency volumes grew 119% to aggregate 231,064 contracts. DGCX India Rupee futures sustained its growth momentum to trade 204,609 contracts - a new monthly volume record.

Eric Hasham, CEO of DGCX said: “The volume records that DGCX has set in June cap an excellent six months for the Exchange in 2011. The robust trading growth that we have achieved over the first half of the year augurs well for a strong annual performance. We look forward to consolidating our growth in the second half of the year.”

Among other currency contracts, Australian Dollar, Canadian Dollar and Swiss Franc futures registered H1 volumes of 16,454, 3,543 and 14,625 contracts. In June, they grew 303%, 42% and 470% year-on-year to record monthly volumes of 2,827, 757 and 2,683 contracts. Sterling/Dollar, Euro/Dollar and Yen/Dollar futures achieved H1 volumes of 56,185, 78,833 and 8,828 contracts.

DGCX's precious metals products have shown increased participation on last year. H1 volumes of DGCX Gold futures climbed 6% to reach 255,724 contracts valued at US $11.88 billion, while Silver rose 69% to reach 29,781 contracts.

Meanwhile, the WTI crude futures monthly volume grew 9% in June to reach 4,560 contracts valued at US $441 million.

Background Information

Dubai Gold & Commodities Exchange

Dubai has historically been an international hub for the physical trade of not only gold, but also many other commodities and so the establishment of the Dubai Gold & Commodities Exchange (DGCX) was the next logical step for the region and the local economy. DGCX commenced trading in November 2005 as the regions first commodity derivatives exchange and has become today, the leading derivatives exchange in the Middle East.