DGCX November volumes rise 121 % year-on-year, currency futures represent 90% of total volume, Alpari gets license to trade for clients

2 Comments
  • Year-to-date (YTD) volume stands at 3,629,409 contracts, a 106 % increase on 2010
  • Average daily volume in November stands at 19,270 contracts, a 101% rise on last year
  • November volumes on the Dubai Gold and Commodities Exchange (DGCX) grew 121 % year-on-year to reach 423,945 contracts, valued at US$ 17.15 billion. Year-to-date volume in 2011 also increased 106% on 2010 levels to reach 3,629,409 contracts valued at US$ 169 billion.
  • Average daily volume (ADV) in the month of November reached 19,270 contracts, a 101% increase from the same month last year.

DGCX currency futures were the main driver of the growth in trading volumes in November accounting for almost 90% of total volumes. Currency futures volumes increased 200 % on last year to touch 396,740 contracts in November 2011. Indian Rupee futures volumes in November reached 379,811 contracts, a substantial increase of 310% from last year’s November volumes. The new Indian Rupee options contract registered substantial growth in November rising 1048% from October to reach 2,055 contracts.

Stephen Gaterell, Chief Executive Officer, DGCX, said, “Over 2011, DGCX has seen a steady growth in trading activity and the rise in November volumes reflects a continuation of this growth momentum. These figures suggest a strong annual performance for DGCX in 2011. In an economic environment marked by strong volatility, DGCX has distinguished itself by its ability to offer the best tools in the region to manage currency and commodity price risk. We look forward to further expanding trading opportunities in commodity and currency derivatives in the region.”

Euro/Dollar increased 51% from October to aggregate 9,919 contracts in November while Sterling/Dollar grew 5% from last month to touch 2,055 contracts. Swiss Franc futures grew substantially by 337% from last month to reach 1,526 contracts while Australian Dollar and Canadian dollar declined 1% and 12 % to reach 867 and 263 contracts respectively.

Among precious metals, DGCX Gold futures registered strong growth in November rising 191.9% from the previous month to reach 22,194 contracts. Silver futures also increased 63% from last month to reach 3,341 contracts.

Meanwhile, three DGCX Members received licences from the Securities and Commodities Authority (SCA), in November, to conduct trading for clients. Members that received SCA licences included Alpari ME DMCC; Luxuris Commodities DMCC ; and Sharewealth Commercial Brokers LLC. 

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


2 Comments on this post

Trackbacks

  1. Brad said:

    Hello Michael Greenberg can you please explain Headline — “Alpari gets license to trade for clients” as the article body its not mentioned what it is or means.

    Thanks
    Brad

    December 6th, 2011 at 9:30 pm
  2. MC said:

    by the way … DGCX only allows brokers to offer products that are available on their exchange … not other products.

    December 7th, 2011 at 11:52 am

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

Startups & New products

Perianne Boring, Founder, Chamber of Digital Commerce

Bitcoin Picks: Negative Feedback to BitLicenses and Is Dogecoin Doomed?

Last week’s bitcoin news was headlined by an announcement from the New York Department of Financial Securities (NYDFS) that it had created proposed guidelines for...

BTX Trader Launches ‘Celery’ Marketplace to Increase Bitcoin and Dogecoin Adoption

Joining the ranks of digital currency marketplaces is a new site called Celery.  Created by the team behind the multi-exchnage trading platform BTX Trader, Celery...

IdentityMind announces Safe Harbor Certification, expansion of AML solution to Europe

IdentityMind (IDM) Global, a Bitcoin-focused anti-money laundering (AML) and risk management solutions provider, has announced their expansion to Europe. IDM’s solutions are come at an opportune time as...

More Digital Currencies

mark

EMIR Q&A – Necessity Or Tool For Clarification?

Legislation would be even more verbose if it needed to include all of the practical advice, which firms need to develop an implementation plan. The...

rob

Is it Ethical to Make Trading Profits from Violence Around the World?

Yes, it’s fine. Right now, we’re facing renewed tensions in Palestine/Israel, and a new Cold War sits out there like a pending order in the...

alexander

Technological Innovation Eroding MT4's Monopoly?

MT4 is quite powerful; it includes many settings and indicators and can offer traders many weeks of indulging yourself with technical analysis - however, these...

More Expert Articles

New Product Spotlight

Copy Trading Update: Tradency Integrates Mirror Trader with cTrader

cTrader continues its expansion into the copy trading space as only a few weeks after Myfxbook, Tradency comes to the fray, with full integration of the platform into its Mirror Trader social trading solution.
Read more

ig labs api

IG Opens API to Public Development, Launches IG Labs

IG Group has been busy today as earlier they released the Full Year financial results to the public. Following the earlier news, they are also now launching IG Labs live today. IG Labs is a developer portal providing access to …
Read more

More 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.

Once your submit any email address to us whether through comments, newsletter subscription or otherwise we may periodically send you email updates and/or proposals from select sponsors - you may unsubscribe from this list any time.
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.