DGCX completes 100 days of trading

The first 100 days of trading on DGCX have been nothing short of spectacular.

The phenomenal growth in volumes, with sharply increasing trades seemingly day by day, the successful introduction of Silver futures contract and increasing market participation are some of its major accomplishments. Management is committed to making the exchange one of the best within the futures industry and has focused on improving trading systems, enhancing liquidity, ensuring the safety of market participants and adding new commodity contracts for trading.

Beginning with gold futures contacts, following it up with the introduction of Silver futures just four months later, and now preparing to introduce currency contracts for trading within the next few months all demonstrate the considerable momentum generated by DGCX.

From the trading of 1151 gold futures contracts in November 2005, the volumes soared to 40893 contracts in March 2006. Since January the volumes have witnessed triple digit growth - rising by 153% in February and 149% in March respectively. The average number of contracts traded per day also registered a sharp rise of 128% in February 2006 followed by another 117% rise in March 2006. On average, 1881 gold futures contracts have been traded per day in the current month.

The Silver futures contracts that started trading from 28th March 2006 have also churned out impressive volumes. The table below shows that in the first four days of trading a volume of 3052 contracts was registered giving an average of 763 contracts per day. In the eleven trading days in April 2006, the volume has vaulted to 13702 contracts - a rise of 63%. In a short span of 15 trading days the total volume stood at 16754 contracts giving an average of 1117 contracts per day.

In value terms, 91164 kg of gold valued at $1.65 billion has been traded on the exchange. 502,620 kg of silver valued at $207.36 million has been traded in less than a month. Over $ 1.85 billion worth of precious metals have been traded on the exchange since its inception.

The massive jump in volumes has been accompanied by a steep rise in prices of precious metals. Gold futures that opened for trading on DGCX at $495/ troy oz. on 22nd November, 2005 closed at $623.20/ troy oz today. Trading currently at 25-year high, gold prices have registered a huge gain of nearly 26% in 100 trading days on DGCX. Similarly, silver prices are at their highest levels of 22 years. In 15 trading days after it was launched for trading on the exchange, silver prices have jumped from $10.970/ troy oz (28th March 2005) to $13.765/ troy oz - registering a massive gain of $2.795/ troy oz or over 25%.

The Exchange has increased the fees for Broker Membership from USD 100,000 to USD 150,000. DGCX has also introduced a new segment, FOREX Trade membership for trading currency futures. Initially futures contracts in Euro/US Dollar and Sterling Pound/US Dollar will be introduced for trading.