DGCX witnesses surge on the back rupee, yen futures

The Dubai Gold and Commodities Exchange (DGCX) has registered 77 per cent surge in currency futures volume this year so far on the back of rise in Indian rupee and yen contracts.
Indian rupee futures, yen futures and euro futures registered a growth of 62 per cent, 72 per cent and 74 per cent, respectively, this year so far, the exchange said.
Mini INR futures grew 15 per cent from the previous month, the exchange said.
Year-to-date volumes on the DGCX registered a growth of 69 per cent over last year, with a total of 11,357,329 contracts traded until the end of the third quarter of 2013.

The growth was supported by 2 per cent year-on-year rise in monthly volumes in September, which saw 988,269 contracts worth USD 28 billion being traded. DGCX's precious metals segment was a key performer in September.
Volumes in gold futures climbed 23 per cent from last month, driven by increased price volatility in precious metals. Silver futures grew 53 per cent from August.

Other contracts that showed strong growth in September included Australian Dollar/US Dollar futures (DAUD) and Canadian Dollar/US Dollar futures (DCUD), which grew 114 per cent and 22 per cent respectively from the previous month.
"DGCX Gold futures provide an exceptional tool for hedging gold price risk exposure in volatile environments allowing participants to profit, whichever direction the market moves.

"September has seen increased price volatility in the precious metal driven by US economic uncertainty; regional geo-political events; and the upcoming festive season in India, one of the world's largest gold consumers. The Exchange offers market participants a highly supportive, regulated risk-free environment for trading Gold futures," Gary Anderson, CEO of DGCX said.