Gold and currency futures emerged as the key drivers of volume for the month, taking volumes to 38,366 contracts in January 2009 compared with 28,772 contracts in December 2008. Average Daily Volume in January was 1,827 contracts, 21% above the previous month.
The Exchange's strategy of offering a diversified product portfolio has paid off, said Nishat Bandali, Chief Marketing Officer, DGCX. "The positive trend in January volumes indicates a fair start to this year."
Bandali added that given the current economic climate, market participants are more inclined to transact derivatives on DGCX, in order to reduce counterparty credit risk. "Operating the region's sole commodity and currency derivatives clearing house, DGCX is well positioned to meet this trend."
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Encouraging start to 2009 for DGCX
- United Arab Emirates: Monday, February 09 - 2009 at 14:42
- PRESS RELEASE
Dubai Gold and Commodities Exchange (DGCX) today said volumes for the first month of this year had started on an encouraging note despite the challenging global economic environment, with overall volumes in January growing 33% on the previous month.
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Notes and media contacts
About DGCX:Dubai Gold and Commodities Exchange (DGCX) is a fully automated, online commodities exchange. Strategically located in Dubai, the exchange is the first international commodity derivatives marketplace in the time zone between Europe and the Far East. DGCX is an initiative of the Dubai Multi Commodities Centre (DMCC), Financial Technologies (India) Limited and Multi Commodity Exchange of India Limited (MCX).
Further Information:
Claire Miller
Head of Marketing
DGCX
Tel: +971 (0)4 361 1625
Posted by Siba Sami AmmariMonday, February 09 - 2009 at 14:42 UAE local time (GMT+4)
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