Dubai commodities exchange records 28% volume growth in 2010

05/01/2011 - Dubai Investment News
Dubai commodities exchange records 28% volume growth in 2010

Posted by Bob Brunskill

Annual volumes on the Dubai Gold & Commodities Exchange (DGCX) grew by 28 per cent year-on-year in 2010, new figures show.

DGCX said the result reflected a surge in the popularity of its cleared and regulated derivatives both as an asset class and a hedging tool.

The figures came as the exchange hailed 2010 as its best-ever year, with a total annual volume of 1.925 million contracts.

In addition, the value of DGCX's annual volume reached $104.18 billion, a 32 per cent increase on last year.

"Over 2010, DGCX offered investors some of the best tools available in the region to manage risk effectively in an uncertain market," said Eric Hasham, chief executive officer of DGCX.

"Our growth in 2010 was also driven by our ability to offer an expanded range of liquid, competitively priced and easily accessible products within a safe and secure trading environment."

In October 2010, DGCX entered into a license agreement with Dow Jones Indices, one of the world's leading index providers, as part of its plans to list futures contracts on Dow Jones-branded indices.ADNFCR-2019-ID-800324101-ADNFCR