DGCX 2011 Annual Volumes Rise 110% to Record Over 4 Million Contracts

Annual volumes for 2011 on the Dubai Gold and Commodities Exchange (DGCX) registered a substantial growth of 110% from 2010 to reach 4,044,138 contracts, the highest ever annual volumes achieved by the Exchange since inception. The annual volumes represent a value of $185.13 billion.
0 Comments
  • 4,044,138 contracts registered on DGCX in 257 trading days in 2011
  • Exchange hits milestone of 10 million contracts on 19 December 2011

Annual volumes for 2011 on the Dubai Gold and Commodities Exchange (DGCX) registered a substantial growth of 110% from 2010 to reach 4,044,138 contracts, the highest ever annual volumes achieved by the Exchange since inception. The annual volumes represent a value of $185.13 billion.

In 2011, the Exchange reached a major milestone of 10 million contracts since inception on 19 December. Since its launch in 2005, the Exchange has so far traded 10,142,979 contracts, valued at $476 billion.

As with last year, currencies drove the majority of volume growth on the Exchange accounting for 88% of total contracts this year. Currency volumes in 2011 stood at 3,567,609, an increase of 177% from last year. Indian Rupee futures retained its exceptional growth momentum over the last two years ending 2011 with 3,184,979 contracts, a 563% growth from 2010.

Precious metals accounted for the remaining 11% of the exchange’s total volumes registering 443,889 contracts. Silver futures emerged as the strongest performer of the year in the precious metals segment rising by 40% from 2010 to aggregate 44,870 contracts in 2011.

Meanwhile, in December 2011, DGCX traded 414,729 contracts worth $16.104 billion, an increase of 152% on 2010. As with the rest of the year, the currency segment led the volume growth, trading 405,338 contracts, up by 239% from December 2010.

Stephen Gaterell, Chief Executive Officer, DGCX, said, “The Exchange’s performance in a year which saw increasing economic uncertainty is a testament to its ability to offer a unique platform to manage and mitigate currency and commodity price risk. As we embark on 2012, we aim to further develop our technology infrastructure as part of offering an even better trading environment for our Members. We will also be looking to expand our product offering and diversify our business across other markets. The Exchange is also considering measures to further increase liquidity and volume in existing futures contracts. With volatility high in today’s economic environment, we expect greater trading volumes across precious metals, energy and currencies on DGCX.”

DGCX recorded an average daily volume of 15,736 contracts in 2011, an increase of 107% against 2010.

Click here to access your latest copy of the Forex Magnates Retail Forex Industry Report.






TAGS: , , , , , , , , , , , , , , , , , , , , , ,
 

Related posts:

More information on this subject is found in the latest Forex Magnates Quarterly Report


Comments are closed.

We do not store your information and we do not disclose our sources.


Leave your name/email (not required) if you'd like to be contacted about this story (will not be disclosed):



Digital Currencies

Expert Articles

Fintech, Startups & New Products

Bitcoin Picks: OpenBazaar to Launch Beta, Banco Santander to Devise Bitcoin Strategy

With Bitcoin prices stabilizing around $500 in the final week of August, news about the digital currency this week include Santander devising a Bitcoin Strategy...

University of Zurich students launch CoinBlesk, a bitcoin payment mobile app

Students from the University of Zurich have launched a bitcoin payment mobile app called CoinBlesk. The open source app allows for the instant transfer of...

Huobi’s bitVC launches “Fixed-term Financial Products” backed by mining activities

Huobi’s bitVC has launched “Fixed Term Financial Products” called “digVC” with a duration of 60 days. Also termed “The World’s First Hashing Power Mortgage”, 2000 subscriptions...

More Digital Currencies

charlie trumpess, Ariel Communications

Making the Most of Gamification: Part 2

Gamification lends itself most obviously to marketing campaigns and loyalty programs, but its scope is really limitless. The FX world relies heavily on education to...

date

First Client Meeting… Like A First Date?!

Upon starting a new job, we are very excited. We try to impress our others by speaking and acting in just the right way. But...

Juan Colon, Darwinex

Advantages And Disadvantages Of Copy Trading

Traders can collaborate with peers with the same interests, exchanging mutually beneficial trading related information. One such approach is fx copy trading, whereby “Leaders” publish...

More Expert Articles

invstr ios app

Invstr – Making Financial Trading Social One App Download at a Time

Launching recently is social finance app Invstr. The app oofers a gamified version of trading to help users sharpen their investment skills, learn about the market, and communicate with other traders.
Read more

FxPro Launches New In-House Developed Web Trader for MT4 Customers

Expanding its list of in-house developed technologies, FxPro has launched a new webtrader to clients. The trading platform replaces their previous version which was licensed from a 3rd party provider.
Read more

More Fintech, Startups & New Products

Forex Research

Recent Comments

Note: Copyright © 2014 Forex Magnates. All rights reserved.

All materials contained on this site are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of Forex Magnates. You may not alter or remove any trademark, copyright or other notice from copies of the content. All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you.Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at Forex Magnates are those of the individual authors and do not necessarily represent the opinion of Forex Magnates or its management. Forex Magnates has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur. Any opinions, news, research, analyses, prices or other information contained on this website, by Forex Magnates, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. Forex Magnates will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2014 "Forex Magnates Inc. - Home of the Forex Elite" All Rights Reserved.