Dubai Gold & Commodities Exchange (DGCX) said its average daily volumes rose six per cent in February  to reach 50,309 contracts compared to the previous month.

The total monthly volumes reached to more than one million contracts, said a statement from the exchange.

DGCX’s Mini-Indian Rupee futures contract was one of the key performers of the month growing 54 per cent from January to register 145,329 contracts.

The smaller version of DGCX’s regular Indian Rupee futures contract, the Mini-Indian Rupee futures was launched in April 2013 in response to market demand for a smaller contract that allows traders to execute trading strategies without making high capital investments.

DGCX today provides one of the largest liquidity pools globally for Indian Rupee futures trading, with a wide range of institutions, businesses and individual traders using the contract to mitigate currency risk exposure.

Other key currency performers in February included Swiss Franc, British Pound, and Canadian Dollar futures, which grew 126 per cent, 31 per cent, and 15 per cent respectively from the previous month.

Euro futures recorded its highest average daily open interest of 1,903 contracts in February, said the DGCX statement.

Silver futures volumes grew substantially in February, up 209 per cent from last year, aggregating 6,446 contracts, its highest since June 2011. The contract was also up 35 per cent from January.

Sensex Futures recorded its third highest monthly volume of 11,564 contracts in February, it stated.

The DGCX said year-to-date volumes of energy contracts registered a growth of 45 per cent from last year, in addition to a 33 per cent year-on-year rise. The year-to-date volumes for WTI futures grew 38 per cent, it added.-TradeArabia News Service