DGCX witnesses volume surge with Indian Gold Quanto Futures

Dubai Gold and Commodities Exchange (DGCX) witnessed a volume surge in the precious metal segment registering a new Year-to-date (YTD) highs with the recent introduction of Indian Gold Quanto Futures.
Together, the recently launched Quanto products on Indian gold and Indian rupee accounted 13 percent of DGCX's July volumes, which reflects significant traction that the new contracts have gained amongst the regional FX and Bullion trader community.
The Gold Quanto greatly complements DGCX's contract on Gold and allows investors to gain access to the Indian gold market without being exposed to movements in the USD-INR exchange rate.
While Indian Rupee Futures retained top performer status recording a substantial growth of 13 percent from last year and continued to be the largest Exchange Traded Derivative (ETD) product globally.

DGCX's currency segment saw a strong growth, as YTD volumes in G6 Currency pool grew 22 percent. YTD volumes on the DGCX registered a growth of 11 percent from the same period last year, trading over 7.5 million contracts.
The Exchange also recorded the highest average monthly Open Interest (OI) in July 2015 with 78,391 contracts, beating the previous high of 59,688 contracts in March, this year.

The growth in OI was driven by strong performance in the exchange's emerging markets contracts particularly on the newly launched Quanto products.
DGCX Interim of CEO Gaurang Desai said that following an exceptional first half performance, the exchange is delighted to witness another month of strong trading.

"Our newly launched Quanto products are generating a lot of interest and increased participation," he added.