Dubai Gold and Commodities Exchange Builds On Encouraging Start For 2009 - Volumes Grow 90% Month-On-Month - Daily Volume Records Established For Euro-Dollar Futures

Dubai Gold & Commodities Exchange (DGCX) today said volumes in February were 90% higher than the previous month and maintained the upward trend despite the worsening economic climate.

Currency futures emerged as the key driver of volume for the month, taking total traded volumes to 72,904 contracts in February 2009 compared with 38,366 contracts in January 2009, although down from 117,442 contracts during the same month last year. Average Daily Volume (ADV) in February doubled to 3,645 contracts from 1,827 contracts in the previous month.

The Euro-Dollar futures achieved numerous daily volume records during February, with the highest daily volume of 6,738 contracts occurring on February 27, 2009.

Malcolm Wall Morris, Chief Executive Officer said “the Exchange’s diversified product offering and clearing solutions placed it well to capture market participants’ increased demand for low counter party risk instruments.”