- 156,242 contracts traded in July, valued at US $828 million, an increase of 37% on last year
- Currency futures rise 311% year-on-year to reach 82,750 contracts in July
- Year-to-date volumes stand at 1,090,645 contracts, up 46% on last year
Volumes on the Dubai Gold & Commodities Exchange (DGCX) recorded a 37% year-on-year increase in July, with 156,242 contracts traded, valued at US $828 million. Volumes were driven by the Exchange’s currency portfolio, and in particular the Indian Rupee futures contract, which accounted for 82,750 and 23,514 contracts respectively in July, a rise of 311% and 307% on a year ago.
Total year-to-date volumes in 2010 rose 46% compared with the previous year to reach 1.09 million contracts as at July end. Meanwhile, year-to-date average daily volumes increased 49% to 7,419 contracts.
The DGCX Indian Rupee futures contract saw its second straight record month in July with 23,514 contracts recorded; almost double the volume in June. Euro/Dollar and Sterling/Dollar rose 761% and 8% respectively year-on-year, with 44,830 and 9,487 contracts achieved. Particularly noteworthy was the performance of the recently introduced currency contracts, Swiss Franc, Canadian dollar and Australian dollar, all of which approximately doubled in volume from June. Gold and WTI crude oil futures fell 16% and 39 % in July compared to a year ago with trading volumes of 54,139 and 17,987 contracts.
Eric Hasham, Chief Executive Officer, DGCX, said, “The growth in July volumes is consistent with the sustained expansion in trading activity that DGCX has seen over the course of this year. Our new currency contracts, introduced in response to rising demand for FX products, have further enhanced the momentum. Over the rest of the year, DGCX will continue to work towards expanding trading opportunities in the growing asset classes of commodity and currency derivatives.”