DGCX volumes crosses 300,000 contracts in July 2011

Dubai, Aug 3, 2011 (WAM) - Dubai Gold and Commodities Exchange (DGCX) achieved another milestone as volumes on the Exchange exceeded 300,000 contracts in July 2011. The exchange saw the highest ever monthly volume trade of 310,990 contracts in July, valued at US$15.05 billion, an increase of 99 per cent from last year.
Increased trading activity throughout July saw average daily volume of 14,809 contracts with an underlying value of US$717 million, up by 99 per cent year-on-year, with the highest ever Average Daily Total Open Interest of 15,303 contracts in July surpassing the previous month's record of 10,943 contracts.
Year- to-date trading in Indian Rupee futures reached 1,172,852 contracts in July, reflecting a remarkable growth of 1382 per cent over last year.
Currency futures remain the key driver of this volume growth, trading 278,269 contracts in July, an increase of 236 per cent from the same period last year. Year-to-date volumes in currency trading rose 98 per cent , to touch 1,383,942 contracts.
Ahmed Bin Sulayem, Chairman of DGCX said: "Following the excellent performance in H1, DGCX has set another remarkable record in July 2011, crossing the 300,000 mark, which is the highest ever month - Emirates News Agency, WAM