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DGCX records robust start to 2014

Dubai: The Dubai Gold and Commodities Exchange (DGCX) recorded a robust start to the year, with a total of 1,043,200 contracts traded in January, an increase of 36 per cent over December 2013.

Currencies were the primary driver of January’s growth, growing 37 per cent month-on-month and aggregating 981,104 contracts. Leading the currency volume rise was Indian Rupee Futures, one of DGCX’s flagship products, which was up 36 per cent from December 2013. Mini INR also registered a significant month-on-month increase of 51 per cent, while the Exchange’s newest product, Sensex Futures, registered 14,913 contracts, an increase of 91 per cent from December.

Among precious metals, DGCX Gold futures recorded 38,531 contracts, a month-on-month increase of 5 per cent. Silver futures also experienced strong volume growth of 354 per cent from January last year, and an increase of 35 per cent from December 2013.

Gary Anderson, Chief Executive Officer, DGCX, said, “We have had a promising start to the year, particularly with the performance of some of the Exchange’s more recent contracts such as Mini INR and Sensex futures. Through 2014, we remain committed to exploring new opportunities with our members and the market in order to diversify our product portfolio. An exciting feature of this growth strategy will be our upcoming polypropylene plastics futures contract. The contract, which will be launched later this month, is designed to provide enhanced liquidity in the global trade of plastics and will be the first ever plastics contract to be listed in the Mena region.”