ASIAN FUTURES: DGCX aiming for 20% of total volumes from metals in 2 years
Apr 27, 2012 | 02:11 AM
The Dubai Gold & Commodities Exchange (DGCX) wants to get 20% of its volumes from metals futures contracts in the next two years, chief business officer Samir Shah told Metal Bulletin.
“11-12% of [current] volumes come from metals. We’d like it to be 15-20% of our portfolio,” Shah said.
DGCX, which currently trades gold, silver, and rebar contracts, launched a 5-tonne copper contract last week to target retail investors and small- to medium-sized physical players in the Middle East and North Africa (Mena) region.
“In our portfolio of contracts, copper was a missing element,” Shah said.
Over the first three days 7,975 contracts (at 5 tonnes of the red metal per contract) were traded at a value of $322 million.
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