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Dubai: The Dubai Gold and Commodities Exchange (DGCX) on Wednesday reported year-to-date volume growth of 54 per cent, reaching nearly 930,000 contracts valued at $48 billion (Dh176.5 billion).
The surge during January-August exceeds the annual volume of 2007.
Year-to-date volume of gold futures rose by 34 per cent while gold options were up 272 per cent. Volumes of euro futures increased by 241 per cent to 90,000 contracts.
The pace of growth is indicative of the increased flow of funds into derivatives, said Malcolm Wall Morris, chief executive officer of DGCX.
"Commodity derivatives are fast gaining favour among market participants seeking asset diversification. Higher volatility in the commodity markets has also created new interest in derivatives."
"Volumes on DGCX have gathered momentum in 2008 due to our diversified product offering and more market participants adopting derivative products in their portfolios. DGCX crude oil contracts, launched just three months ago, account for 10 per cent of year-to-date volumes."
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