DGCX Posts Record Currency Futures Worth $583.9 Million

The GBP/dollar futures accounted for the bulk of transactions, with 3,498 contracts valued at $292.73 million, as investors were looking to hedge themselves against volatility in the contract. The volume for euro/dollar touched 3,932 contracts worth $281.24 million; while Indian Rupee reached 176 contracts worth $7.35 million.

“DGCX is the only exchange in the region to offer currency futures contracts. Furthermore, ongoing volatility in financial markets, tighter spreads and improved volumes are encouraging more participants to trade our currency futures,” said Malcolm Wall Morris, Chief Ezecutive Officer of DGCX.

“The latest record for currency volumes reaffirms that this segment is a viable alternative asset class for local and international participants. Traders are also seeing the benefit of transacting business on an Exchange such as the Dubai Gold & Commodities Exchange to reduce their counterparty credit risk,” 
he added.

· rocel@khaleejtimes.com