DGCX futures volume rises 44pc in August.Byline: Dubai Dubai (d  bī`), sheikhdom (1995 pop. 674,101), c.1,500 sq mi (3,890 sq km), part of the federation of seven United Arab Emirates, SE Arabia, on the Persian Gulf.
Currency futures Currency Futures A transferable futures contract that specifies the price at which a specified currency can be bought or sold at a future date. Notes: Currency future contracts allow investors to hedge against foreign exchange risk. continued to drive volume on Dubai Gold & Commodities Exchange in August, leading to a 44 per cent year-on-year growth in total transactions at 151,699 contracts. DGCX DGCX Dubai Gold & Commodities Exchange traded contracts worth $8.84 billion in August, one of the busiest months for the exchange in 2009. While trade in all four currency pairs was higher compared with the same period last year, total volume growth was mainly supported by Euro/Dollar and GBP/Dollar futures, which rose by 195 per cent and 327 per cent respectively. Total currency futures volume increased 330 per cent in August to 88,189 contracts compared with August 2008. In addition to activity in currencies, DGCX also traded 50,182 gold and 13,311 WTI WTI West Texas Intermediate WTI Western Transportation Institute (Montana State University) WTI World Tribunal on Iraq WTI With The Idea (used in chess to point to the idea behind a specific move) crude oil futures contracts Futures Contract An exchange traded agreement to buy or sell a particular type and grade of commodity for delivery at an agreed upon place and time in the future. Futures contracts are transferable between parties. in August, down 33 per cent and up 43 per cent respectively on 2008. On August 7, currency futures achieved a record daily high of 7,655 contracts, valued at $583.86 million. Total transactions for all products also rose to 13,317 contracts on August 12 -- the highest daily volume achieved in 2009 and the second highest since the exchange launched in November 2005.- TradeArabia News Service Copyright 2008 www.tradearabia.com Copyright 2009 Al Hilal Publishing & Marketing Group Provided by Syndigate.info an Albawaba.com company |
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