Dubai Gold and Commodities Exchange (DGCX) registered its highest ever monthly volumes in September, reaching 971,675 contracts, a 100 per cent increase from the same month last year.

The exchange’s total monthly volume was valued at $38.08 billion, the highest ever monthly trading value it has ever recorded, said a top official.

Commenting on the record growth, CEO Gary Anderson said DGCX’s record breaking volumes this month have been driven by its ability to facilitate greater liquidity and tighter spreads in its contracts.

"The rising profile of the exchange in the region and increased awareness of the investment potential of Gold futures have promoted high levels of retail participation in the contract, significantly boosting trading volumes over 2012," he stated.

According to him, the DGCX’s ability to offer extended trading hours have led to it becoming a benchmark market for Indian Rupee futures, driving consistent growth in the contract.

"DGCX is today the biggest offshore market in the world for Indian Rupee derivatives," he added.

DGCX ended the third quarter of the year with year-to-date volumes of 6,724,161 contracts, a significant rise of 143 per cent from last year.

Its currency segment rose 105 per cent year-on-year to end the month on 901,712 contracts. One of the key performers of the month was Euro futures, which recorded a massive year-on-year jump of 415 per cent, aggregating 38,851 contracts – the highest monthly volumes the contract has achieved this year.

Indian Rupee Futures maintained its high-growth trend this year, rising 101 per cent year-on-year to reach 859,739 contracts in September.

Among precious metal futures, Gold continued its robust performance in September, rising 46 per cent from last year to aggregate 58,897 contracts. Silver futures grew 133 per cent from last month, while copper increased by 8 per cent to reach 1,781 and 7,852 contracts respectively.-TradeArabia News Service