Indian currency, equity products key drivers of DGCX volumes

Indian currency and equity products were the key drivers in the growth of Dubai Gold and Commodities Exchange which traded over 3.3 million contracts valued at over USD 97 billion.
Dubai Gold & Commodities Exchange's Indian product suite which includes the Indian Rupee and Sensex Futures registered a year-to-date growth of 11 per cent and 20 per cent respectively.
Growth in the hydrocarbon sector was led by WTI Futures which rose by 54 per cent.
DGCX also recorded an all-time high Open Interest (OI) in the first quarter, growing 73 per cent from Q1 2014. In March, DGCX recorded the highest average OI of 59,688 contracts.

DGCX's March volumes registered a significant growth of 32 percent from last month, trading 1,222,360 contracts valued at USD 36 billion.
DGCX's Indian Rupee Futures contract was a strong performer recording the highest monthly volume since August 2013 trading 1,026,331 contracts valued at over USD 32 billion.

The Indian Rupee Options sustained its growth momentum, recording all time high volume of 14,811 contracts in March.
The contract registered 106 per cent from the previous month. The Indian Rupee Options contract also set other records including the highest Open Interest (OI) of 8,164 contracts on March 27.
Another strong performer was Gold Futures which recorded a 14 percent month-on-month growth, trading 33,080 contracts in March.

"We have had a strong first quarter this year, particularly with the performance of our Indian products and an all-time high Open Interest which is an important indicator of market confidence," said Gaurang Desai, Interim CEO of DGCX said.
"This augurs well for sustained growth during the rest of the year and encourages us to further diversify our product portfolio with innovative contracts. In addition to launching new products, we are also working on further growing and expanding our community of members and participants," said Desai.
The Average Daily Volume (ADV) in March stood at 55,562 contracts, up 26 per cent from previous month. Indian Rupee Futures contract recorded second highest ever Average Daily Open Interest of 47,302 contracts in March 2015 while its Options recorded highest ever Average Daily Open Interest of 6,336 contracts in March 2015.

Indian Rupee Euro Futures contract recorded highest ever monthly volume and value at 2,680 contracts valued at USD 17.07 million in March 2015, DGCX said.