DGCX sets several records in the first quarter

DUBAI, 13th April, 2015 (WAM) -- First quarter volumes on the Dubai Gold and Commodities Exchange, DGCX, grew 11% from the last quarter, trading more than 3.3 million contracts valued at over US$ 97 billion. DGCX also recorded an all-time high Open Interest, OI, in the first quarter, growing 73% from Q1 2014. In March, DGCX recorded the highest average OI of 59,688 contracts. The key drivers for the year-to-date growth were the Indian currency and equity products and the hydrocarbon segment. DGCX’s Indian product suite which includes the Indian Rupee and Sensex Futures registered a year-to-date growth of 11% and 20% respectively. Growth in the hydrocarbon sector was led by WTI Futures which rose by 54%. DGCX’s March volumes registered a significant growth of 32% from last month, trading 1,222,360 contracts valued at US $ 36 billion. DGCX’s Indian Rupee Futures contract was a strong performer recording the highest monthly volume since August 2013 trading 1,026,331 contracts valued at over US$32 billion. The Indian Rupee Options sustained its growth momentum, recording all time high volume of 14,811 contracts in March. The contract registered 106% from the previous month. The Indian Rupee Options contract also set other records including OI of 8,164 contracts on 27th of March. Another strong performer was Gold Futures which recorded a 14% month-on-month growth, trading 33,080 contracts in March. The Average Daily Volume in March stood at 55,562 contracts, up 26% from previous month. Gaurang Desai, Interim CEO of DGCX, said, "We have had a strong first quarter this year, particularly with the performance of our Indian products and an all-time high Open Interest which is an important indicator of market confidence. This augurs well for sustained growth during the rest of the year and encourages us to further diversify our product portfolio with innovative contracts. In addition to launching new products, we are also working on further growing and expanding our community of members and participants." – Emirates News Agency, WAM – http://www.wam.ae/en/news/economics/1395279155721.html