DGCX surpasses the three million contracts mark in 2011

posted on 23/10/2011: 66 views

The Dubai Gold and Commodities Exchange (DGCX) yesterday announced that its total traded volume for 2011 surpassed the three million contracts mark on October 18, 2011, a significant milestone achieved in the history of the Exchange.

Trading volumes stood at 3,012,888 contracts on October 18, 2011 representing a total value of US US$144 billion and a 105% increase on the YTD volume of 1,473,265 contracts achieved within the same period last year. The new volume mark takes the total volume achieved since inception to 9.11 million contracts, valued at US$434.28 billion, according to DGCX in an emailed press release.

Ahmed Bin Sulayem, Chairman of DGCX said, "Crossing this milestone demonstrates growing acceptance of DGCX as an exchange of choice for market participants. Exceeding three million contracts in just 205 trading days is further evidence of the vast rise in demand for DGCX's currency and commodity derivative products. As global market volatility and economic uncertainty continue to prevail, DGCX offers some of the best tools in the region to manage currency and commodity price risks within a robust, secure and regulated environment. As our achievements grow, we can confidently say that the market participants are satisfied with our approach of introducing the right products at the right time. This accomplishment augurs well for a strong annual performance." - Emirates News Agency, WAM

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