Forex

DGCX rupee-dollar futures trade hits all-time high in March

PTI Dubai | Updated on March 13, 2018 Published on April 26, 2012

Trust Securities DMCC, a clearing broker member on the Dubai Gold and Commodities Exchange (DGCX), recorded all-time high in the monthly rupee-dollar futures contract volumes in March at 4.95 lakh contracts.

It registered a rise of 257 per cent compared to the trading volume in March 2011, an all-time high since the contract began trading in 2007, said Bruce Powers, Head of Research at Trust Securities DMCC.

Trading in the rupee was a significant contributor to the overall volume increase at DGCX for both March as well as the first quarter of 2012, he said.

Total exchange volume was up 141 per cent from the previous year with 5.50 lakh contracts traded, while first quarter volumes improved by 126 per cent to 15.45 lakh contracts.

DGCX is the only exchange trading the rupee-futures contract outside of India, he added.

Mr Powers said Trust Securities continues to see growing interest in trading the rupee contract from its clients in the UAE as well as the wider region.

“As volume levels increase, it helps to attract other international investors who may be interested in trading opportunities. We anticipate volume levels in the rupee futures contract to continue to grow on the DGCX.”

Trust Securities has been leader in the commodity market in the UAE for close to 10 years and has recently established two sub offices in India and Sri Lanka.

It is a clearing member of the DGCX, an initiative of the DMCC, Financial Technologies (India) and the Multi Commodity Exchange of India Ltd (MCX), and a supply chain manager of Agricultural commodities throughout the Middle East and North Africa (MENA) region.

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Published on April 26, 2012
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