DGCX Releases Improved Trading Metrics for October


DGCX Releases Improved Trading Metrics for OctoberThe Dubai Gold and Commodities Exchange saw its trading volumes for October surge 28 percent from the previous year, and expanded its Emerging Markets portfolio through inclusion of four new products.  Volumes in October were also the second highest this year, reaching 1,044,396 contracts.

The DGCX’s currency category rose 31 percent from the previous year, contributing to 93 percent of the total trading volumes with the number of contracts traded reaching 978,169. The exchange boosted its product portfolio by introducing two index products as well as two mini-Indian Rupee contracts last month.

The new products include 2 MSCI India index contracts; one is a price return index that tracks the price performance of 67 Indian Rupee-denominated stocks, while the second is a total return index that considers the dividend payments as well as the price performance, all measured in U.S. dollars.

The exchange also introduced two fresh mini currency futures-the Indian Rupee/Euro and the Indian Rupee/British Pound.

Commenting on the report, DGCX’s Interim CEO Gaurang Desai said in a press release: “The strong performance of Indian Rupee products and Sensex Futures in October reflects the heightened interest from market participants to trade these products, especially during the period of high volatility witnessed in the middle of October.”

Meanwhile, Chi-X Australia Pty Ltd, which is owned by alternative trading venue firm Chi-X Global Holdings LLC, has appointed Peter Warton to the position of the Head of Market Operations. Previously, Warton was the Global Head of IT operations at securities firm Tibra. He also worked at Chi-X from August 2011 to March 2014. To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.

To contact the reporter of this story; Yashu Gola at yashu@forexminute.com