Trade jumps in January on Dubai gold and commodities bourse

The number of contracts traded on the Dubai Gold & Commodities Exchange (DGCX)  rose to 1,176,111 in January, an increase of 22 per cent over the figure for December 2014 and 13 per cent more than in the same month last year.

Gold futures contracts rose to 47,206 in January. This was 13 per cent higher than in December and 23 per cent up year-on-year.

“We have had a promising start to the year, particularly with the performance of some of the Exchange’s more recent contracts such as the two new pairs of Mini Indian Rupee Cross Currency Futures and MSCI Futures,” says DGCX interim CEO Gaurang Desai. “Through 2015, we remain committed to exploring new opportunities with our Members and the market in order to diversify our product portfolio. In addition to product launches, we are also working on further growing and expanding our community of members and participants.”

Established in 2005, DGCX is the region’s first derivatives exchange and the only one allowing participants to clear and settle transactions within the Gulf region. It is majority-owned by Dubai Multi Commodities Centre (DMCC), a strategic initiative of the Government of Dubai, with a mandate to enhance commodity trade flows through the Emirate by providing the appropriate physical, market, financial infrastructure and services required.

For more see MEED.