The Dubai Gold & Commodities Exchange (DGCX) recorded a 63 per cent year-on-year increase in volumes in September, with 156,740 contracts traded, valued at $7.85bn. 

September volumes also rose 41 per cent month-on-month as trading activity achieved greater momentum following the quiet periods associated with the summer lull and the end of Ramadan.

DGCX currency futures continued to be the mainstay of growth, accounting for about 70 per cent of total monthly volumes. Currency futures volumes grew 304 per cent over the same period last year to reach 112,839 contracts in September.   

DGCX Indian rupee futures registered its fourth straight monthly volume record with 69,917 contracts traded, an increase of 61 per cent on the previous month and valued at $3bn.

Euro/dollar, sterling/dollar and yen/dollar saw volumes of 21,123, 10,786 and 2,820 contracts traded respectively.

Among the new currency pairs, Australian dollar, Canadian dollar and Swiss franc futures registered volumes of 2,298, 2,581 and 3,314, with month-on-month growth of 102 per cent, 254 per cent and 182 per cent respectively.

Total year-to-date volumes on DGCX stood at 1,358,733 contracts at the end of September, a 37 per cent annualised increase. September witnessed an average daily volume of 7,464 contracts.