Dubai Gold and Commodities Exchange records over 1 million contracts in October

Total monthly volume was valued at $43.07bn, surpassing the previous highest trading value $38.08bn achieved in September 2012.

DGCX year-to-date volumes reached 7,781,669 contracts, a rise of 143%. DGCX currency volumes were up by 159%, trading 7,172,961 contracts year-to-date. Trading in INR futures witnessed a substantial growth of 189%. In addition, year-to-date trading in gold futures rose 29% to trade 465,725 contracts year-to- date.

October 2012 volumes recorded a significant increase of 139% over October 2011. Gold futures, a key contributor to this growth recorded a year-on-year increase of 490%; followed by the DGCX currency segment which generated its highest ever volume in October trading 992,126 contracts - registering a year-on-year growth of 131%.

Among the currency pairs, EUR futures and INR futures saw a year-on-year jump of 150% and 117% respectively. INR Futures continued its robust performance trading the highest ever monthly volumes of 907,072 contracts in October 2012. Euro futures generated interest among institutional and retail participants in the region who are looking to manage their price risk on a regulated and cleared market.

In base metals, Copper Futures grew 137% from last month to aggregate 18,584 contracts. Overall, the Exchange achieved its highest ever Average Daily Value of contracts valued at $1.96bn per day in October 2012. The YTD Average Daily Volumes in DGCX surged by 142%.

Gary Anderson, Chief Executive Officer, DGCX, commented, "With over 1 million contracts traded on the Exchange in October, DGCX has set yet another milestone. The remarkable growth in October volumes is a testament to our efforts in facilitating greater liquidity and tighter spreads in contracts. Our increased member base, coupled with the extended trading hours and the well regulated and secure clearing house, is attracting a large and growing number of global participants to trade on the DGCX platform."