Dubai, 4 March 2010

Volume on the Dubai Gold & Commodities Exchange gathered strong momentum in February, increasing 146% year-on-year to reach 179,278 contracts, valued at US $10.7 billion.  Average daily volume also increased in February, to 9,436 contracts, a rise of 23% on January and up 159% on the same period last year. Volume in February was driven by an across-the-board increase for currencies, precious metals and crude oil derivatives. Within the currency segment, which rose 132% year-on-year, Euro/Dollar and Sterling/Dollar futures traded 79,976 and 28,253 contracts respectively. Trading in Yen/Dollar and Indian Rupee/Dollar futures was also higher compared with last year, at 18,850 and 7,796 contracts.  During February, Gold futures volume was 37,363 contracts, a year on year increase of 175%.

• Total volume reached 179,278 contracts, valued at US $10.7 billion in February, an increase of 146% on last year

• Average daily volume was 9,436 contracts in February, 23% up on January and 159% up on last year

“The volume growth in February demonstrates sustained momentum and interest in DGCX commodity and currency futures markets.  The currency segment was particularly strong in February due to increased volatility in the Euro/Dollar,” said Eric Hasham, Chief Executive Officer, DGCX.

“Interest in trading and hedging price risk is best reflected by volume on the Exchange, which has seen consistent growth since the middle of last year. Participants on DGCX not only gain exposure to the key global economic indicators but also benefit from reduced counterparty risk by transacting on a regulated and secure trading platform and clearing house,” he added.

Year to date volume is up 200% and stands at 333,025 contracts as at end February, led primarily by growth in gold and currency futures trading.

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