ID :
98481
Wed, 01/06/2010 - 16:08
Auther :
Shortlink :
https://oananews.org//node/98481
The shortlink copeid
DGCX achieves record annual volumes in 2009
Dubai, Jan 6, 2010 (WAM)- The Dubai Gold '&' Commodities Exchange (DGCX) reaffirmed the important role of derivatives in 2009 of managing risk during uncertain market conditions as the Exchange recorded 1.5 million contracts valued at US $79 billion at the end of 2009. Surpassing the 2008 total volume of 1.142 million contracts, DGCX recorded an increase of 31.6% in 2009; the highest annual volume to be achieved since inception.
Currencies and crude oil were the key drivers for the rise in annual volume. While currencies recorded a 132% increase compared with last year, full year volume for crude oil futures rose by 140%.
Monthly volume on Dubai Gold '&' Commodities Exchange (DGCX) in December was 181,105, an increase of 529% on December 2008. December volume included 75,591 gold, 89,123 currency and 10,083 WTI futures contracts. Year-on-year volumes of currency, crude and gold futures grew by 524%, 509% and 489% respectively in December.
Commending the Exchange's robust performance in 2009 Ahmed Bin Sulayem, Chairman, DGCX, said, "DGCX's launch and progress was a timely occurrence for this region. The volatility in global markets and the tightening of credit rendered risk management, security and market transparency a priority among investors.
The record annual volume on DGCX indicates that the Exchange is continuing in its growth path, offering the distinct advantages of regulated on-exchange trading and clearing. " Average daily volume reached 5,921 contracts in 2009, an increase of 30.6% compared with 2008. Since inception in November 2005, DGCX has seen trading of over 4.1 million contracts with a value in excess of US$ 185 billion.
In 2009, DGCX focused on improving liquidity, tightening prices and educating participants to better understand the trading and price risk management benefits of derivatives. The exchange witnessed a strong response from new and existing participants during workshops held throughout the year.
On February 27th 2009, for the first time, volume for Euro/Dollar futures touched almost 7,000 contracts valued at US $ 427 million. August 7th 2009, saw the highest daily volume ever for all currency futures at 7,655 contracts, valued at US $583.86 million. Total November 2009 volume hit an all time monthly high of 190,554 contracts, valued at US $10.86 billion, up 345% year on year, led by gold and currencies.
Currencies and crude oil were the key drivers for the rise in annual volume. While currencies recorded a 132% increase compared with last year, full year volume for crude oil futures rose by 140%.
Monthly volume on Dubai Gold '&' Commodities Exchange (DGCX) in December was 181,105, an increase of 529% on December 2008. December volume included 75,591 gold, 89,123 currency and 10,083 WTI futures contracts. Year-on-year volumes of currency, crude and gold futures grew by 524%, 509% and 489% respectively in December.
Commending the Exchange's robust performance in 2009 Ahmed Bin Sulayem, Chairman, DGCX, said, "DGCX's launch and progress was a timely occurrence for this region. The volatility in global markets and the tightening of credit rendered risk management, security and market transparency a priority among investors.
The record annual volume on DGCX indicates that the Exchange is continuing in its growth path, offering the distinct advantages of regulated on-exchange trading and clearing. " Average daily volume reached 5,921 contracts in 2009, an increase of 30.6% compared with 2008. Since inception in November 2005, DGCX has seen trading of over 4.1 million contracts with a value in excess of US$ 185 billion.
In 2009, DGCX focused on improving liquidity, tightening prices and educating participants to better understand the trading and price risk management benefits of derivatives. The exchange witnessed a strong response from new and existing participants during workshops held throughout the year.
On February 27th 2009, for the first time, volume for Euro/Dollar futures touched almost 7,000 contracts valued at US $ 427 million. August 7th 2009, saw the highest daily volume ever for all currency futures at 7,655 contracts, valued at US $583.86 million. Total November 2009 volume hit an all time monthly high of 190,554 contracts, valued at US $10.86 billion, up 345% year on year, led by gold and currencies.
