Currency & Crude Oil Futures Lead Rise In DGCX Volume During June - 162,969 Contracts, Valued At US$ 8.5 Billion, Were Transacted During June - Monthly Volume Rose 19% Year-On-Year

Reflecting strong year-on-year growth, volume on Dubai Gold & Commodities Exchange (DGCX) rose 19% in June, led by higher interest in currency and crude oil futures. The exchange traded 162,969 contracts in June, valued at US$ 8.5 billion.

The year on year growth in total volume was largely driven by British Pound/Dollar, Indian Rupee/Dollar and WTI crude oil futures contracts. However, gold futures volume retained the top spot in June, accounting for the highest number of contracts traded.

Trading in British Pound/Dollar and Indian Rupee/Dollar rose by 65% and 652% respectively in June compared with the same period last year. Average daily volume for the month of June stood at 7,407 contracts, an increase of 14% on last year.

The merits of trading derivatives in the region have assumed greater significance amid the continued price volatility in global commodities and currencies, said Malcolm Wall Morris, Chief Executive Officer, DGCX.

Commenting on the monthly volume on DGCX, Wall Morris said, “Despite a marked difference in the regional economic environment in 2009 vis-à-vis last year, the growth in June supports DGCX’s strategy of offering a diverse portfolio of commodity and currency futures contracts to meet the demand and requirements of local market participants.”