Posts Tagged ‘2017’

Connect to DGCX from Interxion London through BSO Market Data Connect

Connect to DGCX from Interxion London through BSO Market Data Connect

The new service provides electronic traders with arbitrage opportunities between DGCX and London

 

LONDON/DUBAI – September 19, 2017 – BSO Network Solutions, the global ethernet network, cloud and hosting provider, today announced that it has enhanced its Market Data Connect service to enable direct trading and market data access between the Dubai Gold and Commodities Exchange (DGCX) and Interxion London.

The service will deliver trading firms with DGCX’s market data without the need to have a presence at the Exchange as well as provide access to arbitrage opportunities between the London and Dubai markets.

Gaurang Desai, CEO of DGCX, commented: “With electronic trading bringing the global markets closer, it is important for our global customers and prospects to have the right connectivity solutions and access to real-time price information. Through BSO’s low-latency and highly resilient connectivity service; global traders and market participants can not only access DGCX market effectively from Interxion’s London Data Centre but also immensely benefit from a transparent and secure trading infrastructure to carry out their transactions. This enhanced offering will also enable participants to take advantage of the arbitrage opportunities between Dubai and London markets and therefore, it’s definitely a great value-add for members and customers of DGCX.”

Bill Fenick, Strategy Director, Financial Services at Interxion went on to say: “This new connection to DGCX provides our customers with improved access to an important commodities market and continues to solidify Interxion London as the global commodities hub”.

Fraser Bell, Chief Revenue Officer (CRO) of BSO concluded: “As market-makers continue to seek access to the emerging regions, our service upgrade means traders based in London can easily trade between the city and the high-growth market in Dubai. The improved offering also builds on our strategic partnership with DGCX – ensuring firms can efficiently execute their commodity trades. This continued drive to enhance our services cements our position as the leading provider of network expertise to the emerging markets.”

 

ENDS

 

About BSO BSO is the Ethernet network, cloud and hosting provider of choice for global businesses wanting superior technology infrastructure and connectivity to the world’s most dynamic marketplaces. The company pioneers technology across emerging and established markets, designing solutions that offer the highest availability and lowest latency in the industry. Headquartered in London, BSO’s global network reaches every continent and spans 20 countries with 91 data centre locations. BSO is redefining connectivity through best-in-class services, global knowledge base and a unique approach to the customer experience. The company continually strives to innovate and invest in its own services to ensure its solutions evolve in parallel with the finance community. For more information, please visit www.bsonetwork.com. Follow BSO on Twitter and LinkedIn.

About Interxion Interxion (NYSE: INXN) is a leading provider of carrier and cloud-neutral data centre services in Europe, serving a wide range of customers through 45 data centres in 12 European countries. Interxion’s uniformly designed, energy efficient data centres offer customers extensive security and uptime for their mission-critical applications. With over 600 connectivity providers, 21 European Internet exchanges, and most leading cloud and digital media platforms across its footprint, Interxion has created connectivity, cloud, content and finance hubs that foster growing customer communities of interest. For more information, please visit www.interxion.com

For further information, please contact:

Tim Focas/Megan Rothery at Aspectus (PR agency) +44 20 7242 8867 bso@aspectuspr.com

 

About DGCX: Established in 2005, DGCX is the region’s leading derivatives exchange and the only one allowing global participants to trade, clear and settle transactions within the Gulf region. The Exchange has played a pioneering role in developing the regional market for derivatives and financial infrastructure. DGCX is an electronic commodity and currency derivatives exchange with over 200 members from across the globe, offering futures and options contracts covering the precious metals, energy and currency sectors. DGCX is a subsidiary of DMCC (Dubai Multi Commodities Centre), a Dubai Government Authority for trade, enterprise and commodities.

For more information: www.dgcx.ae

DGCX also owns and operates the region’s largest and only multi-asset Clearing House – Dubai Commodities Clearing Corporation (DCCC). DCCC is federally regulated by the Securities & Commodities Authority (SCA) and is recognised as a Third-Country CCP by European Securities Markets Authority (ESMA) with over 80 clearers from across the globe.

For more information: www.dccc.co.ae

Further Information:
Meng Chan Shu
Director of Business Development and Sales
Dubai Gold and Commodities Exchange
Tel: +971 4 361 1660
Email: meng.shu@dgcx.ae

or

Dhanya Issac/Lara Batato
Weber Shandwick PRs
Tel: +971 4 445 4222
Email: lbatato@webershandwick.com or lbatato@webershandwick.com

Continue Reading

DGCX Currency Volumes See an Uptick in August as Single Stock Futures Pick-up Steam

DGCX Currency Volumes See an Uptick in August as Single Stock Futures Pick-up Steam

The Exchange ends summer on a fruitful note with volume hike on its key products and move towards launching region’s first Sharia-compliant Spot Gold contract

   
Dubai, September 03 2017: Despite the summer being a typically slow period for markets, the Dubai Gold and Commodities Exchange (DGCX) witnessed an uptick in trading volumes in key products, predominantly driven by increased investor interest in the Exchange’s offerings in Euro Futures, INR Options and Indian Single Stock Futures. The Exchange has strategically used the summer months to roll-out several initiatives focused on product development and partnerships aimed at strengthening its presence in the regional financial markets.
 
Recently, DGCX, the only regulated gold exchange in the Middle East, announced its plan to launch the region’s first Sharia-compliant Spot Gold contract in partnership with a Saudi Arabian conglomerate, Ayedh Dejem Group. The Exchange also inked a pact with Amanie Advisors which is a leading global consultancy specialising in Islamic Finance. These partnerships are aimed at developing Islamic products for the DGCX marketplace and will mark the Exchange’s entry in to the Islamic Finance sector.
 
The DGCX’s volume highlights for the month of August include: Euro futures traded its highest volume since January 2013, showing month-on-month growth of 77% and year-on-year growth of 19%. DGCX’s Indian Single Stock Futures witnessed strong growth too, with volumes growing by 583% compared to the same period last year. With investors looking for protection after a period of low volatility Indian Rupee Options volume surged, leading it to mark year-on-year growth of 40%.
 
Gaurang Desai, Chief Executive Officer of the Dubai Gold and Commodities Exchange, commented: “As a multi-asset Exchange, we endeavor to provide our market participants with access to a number of products for their investment, hedging and arbitrage needs. The increased trading activity in contracts like the Euro and Indian Single Stock futures is an indication that our market participants truly appreciate and are increasingly becoming reliant on wider range of DGCX products.”
 
Looking ahead, the DGCX is looking to launch their Sharia-compliant Spot Gold contract later this year. Also, on the heels of the successful addition of ‘Calendar spreads’ on Gold and G6 Currency contracts in June, the Exchange will introduce calendar spreads in WTI and Brent contracts promoting its Energy products portfolio.
 
Gaurang added: “At DGCX, we have embarked on a path to broaden our reach. With Dubai already known as the ‘City of Gold’, the recent developments in global geopolitics and increased volatility in gold has resulted in an amplified appetite to hedge and invest in the product. The upcoming Sharia Spot Gold contract will not only enhance our product offerings, but also meet the varied trading requirements of our customer base within the UAE, Saudi Arabia and the wider GCC region.”
   

ENDS


About DGCX: Established in 2005, DGCX is the region’s leading derivatives exchange and the only one allowing global participants to trade, clear and settle transactions within the Gulf region. The Exchange has played a pioneering role in developing the regional market for derivatives and financial infrastructure. DGCX is an electronic commodity and currency derivatives exchange with over 200 members from across the globe, offering futures and options contracts covering the precious metals, energy and currency sectors. DGCX is a subsidiary of DMCC (Dubai Multi Commodities Centre), a Dubai Government Authority for trade, enterprise and commodities.

For more information: www.dgcx.ae

DGCX also owns and operates the region’s largest and only multi-asset Clearing House – Dubai Commodities Clearing Corporation (DCCC). DCCC is federally regulated by the Securities & Commodities Authority (SCA) and is recognised as a Third-Country CCP by European Securities Markets Authority (ESMA) with over 80 clearers from across the globe.

For more information: www.dccc.co.ae

Further Information:
Meng Chan Shu
Director of Business Development and Sales
Dubai Gold and Commodities Exchange
Tel: +971 4 361 1660
Email: meng.shu@dgcx.ae

or

Dhanya Issac/Lara Batato
Weber Shandwick PRs
Tel: +971 4 445 4222
Email: lbatato@webershandwick.com or lbatato@webershandwick.com

Continue Reading

DGCX to Launch Region’s First Sharia Compliant Spot Gold Contract, in Partnership with Ayedh Dejem Group

DGCX to Launch Region’s First Sharia Compliant Spot Gold Contract, in Partnership with Ayedh Dejem Group

Dubai, August 19, 2017: The Dubai Gold & Commodities Exchange (DGCX) and Ayedh Dejem Group, a conglomerate from the Kingdom of Saudi Arabia, have agreed to develop and launch the Middle East’s first-ever Sharia compliant Spot Gold contract to be traded on an international exchange. The partnership enables both entities to increase their presence in the Saudi Arabian and wider GCC Islamic Finance market, and attract the interest of regional Islamic financial institutions and banks.


This development is reflective of the growing potential of the Saudi Arabian and wider GCC regions Sharia compliant gold markets. According to the World Gold Council, Saudi Arabia’s gold demand, stood between 60 and 85 tons. This is the highest in the Middle East and ranked sixth in the world; representing almost 30% of demand across the region. Sharia compliant gold investments are worth an estimated USD 2 trillion meaning the decision to launch this new contract is ideally timed.

Gaurang Desai, Chief Executive Officer of the DGCX, said, “We are looking at this product to develop local markets and unlock the potential of Gold trading in the region. We continually look to work with partners that allow us to capitalize on these opportunities. We are delighted to collaborate with the Ayedh Dejem Group as we believe the new Spot Gold contract will encourage new and existing institutional participants to invest and trade in Sharia compliant products. As the largest derivatives bourse in the Middle East, we are confident of the product’s success and establishing more such partnerships and launching additional products in the future.”

Ayedh Dejem Group is known as one of the largest oil transportation and storage platforms in the region, working closely with GCC producers. The group also manages numerous Gold Centers and is a key investor in the field of fixed assets, including infrastructure and real estate, while developing new projects in Dubai and the wider UAE.

Ayedh Bin Dejem, Chairman for the Group, said: “We are committed to delivering high quality products and services to our customers, and, in addition, this partnership is further evidence of how we are contributing to the growth of the Islamic Finance market. We believe our partnership with DGCX supports our vision to enhance cross-border collaboration as it offers access to the regional gold and commodities market, providing customers with improved hedging and investment solutions in compliance with Sharia law.”

“Bringing Sharia compliant products to a wider audience will continue to garner interest from the local populous as well as other global entities that are looking for a route into the newest and fastest growing sector of the mainstream financial markets. Amanie Advisors LLC, the leading global Islamic Finance advisory firm, have been selected to advice on the initiative.” Added Desai.

Historically, Dubai has been called ‘The City of Gold’ and the Middle East are heavily invested in gold, it is an important asset class within any portfolio and fund managers tend to allocate a portion of their total investments to gold. The launch of this product appealing to a wider range of investors in the region is an ideal way for the Exchange to extend its reach.

ENDS


About DGCX: Established in 2005, DGCX is the region’s leading derivatives exchange and the only one allowing global participants to trade, clear and settle transactions within the Gulf region. The Exchange has played a pioneering role in developing the regional market for derivatives and financial infrastructure. DGCX is an electronic commodity and currency derivatives exchange with over 200 members from across the globe, offering futures and options contracts covering the precious metals, energy and currency sectors. DGCX is a subsidiary of DMCC (Dubai Multi Commodities Centre), a Dubai Government Authority for trade, enterprise and commodities.

For more information: www.dgcx.ae

DGCX also owns and operates the region’s largest and only multi-asset Clearing House – Dubai Commodities Clearing Corporation (DCCC). DCCC is federally regulated by the Securities & Commodities Authority (SCA) and is recognised as a Third-Country CCP by European Securities Markets Authority (ESMA) with over 80 clearers from across the globe.

For more information: www.dccc.co.ae

Further Information:
Meng Chan Shu
Director of Business Development and Sales
Dubai Gold and Commodities Exchange
Tel: +971 4 361 1660
Email: meng.shu@dgcx.ae

or

Dhanya Issac/Lara Batato
Weber Shandwick PRs
Tel: +971 4 445 4222
Email: lbatato@webershandwick.com or lbatato@webershandwick.com

Continue Reading

DGCX sees Single Stock Futures Grow While Enhancing its Position in the UAE Amongst National Entities

DGCX sees Single Stock Futures Grow While Enhancing its Position in the UAE Amongst National Entities

July 2017 Volumes


Dubai, August 01, 2017: The month of July proved to be an eventful one for DGCX, the largest and the most diversified derivatives bourse in the region, as it inked pacts for greater collaboration with two leading Abu Dhabi based entities – the Abu Dhabi Securities Exchange (ADX) and Abu Dhabi Global Market (ADGM). The Exchange’s recent regulatory recognition and ties with the prominent National entities not only corroborates its unique range of trading and clearing capabilities but also marks a step towards DGCX strengthening its presence in the UAE and wider regional financial markets.

Earlier in the month, DGCX signed an MOU with ADX to create the basis for collaboration on a unified Clearing House in the UAE. More recently, the Exchange and its wholly owned CCP subsidiary, Dubai Commodities Clearing Corporation (DCCC) received the regulatory recognition from ADGM to operate as its first Remote Exchange and Clearing house. This development will enable ADGM domiciled companies to access DGCX’s trading and clearing platforms.

On the volumes front, DGCX’s Single Stock Futures (SSF) reached an all-time high, trading an average daily volume of over 10,000 lots for the first time. The Indian Single Stock Futures recorded the highest monthly volume of 214,769 contracts with Open Interest of 2,128 contracts in July 2017, while recording a year-to-date increase of 274%.

Average Daily Volumes in G6 currency pairs also saw significant growth month-on-month with the Euro (up 41%), Canadian Dollar (up 73%) and Australian Dollar (up 26%). Year-on-year overall G6 Currency product volumes grew by 80%.

Gaurang Desai, CEO of DGCX, commented: “The summer months are usually a lackluster period for trading activity, however, it has been an active month for DGCX this year. Not only have we seen greater participation and trading activity in our marketplace but we have also received the regulatory recognition to expand our reach and offer our capabilities to dynamic local bodies such as the ADX and ADGM. Our strategy on Single Stock Futures is starting to gain momentum, as witnessed last month with volume and Open Interest growing in tandem.”

DGCX’s recent regulatory recognition from ADGM is part of a wider overall development plan and integration of markets. DGCX is a recognized market by the Monetary Authority of Singapore (MAS), Dubai Financial Services Authority (DFSA) and the Financial Services Regulatory Authority (FSRA). This also ties in with the ESMA recognition that the Exchange received earlier this year.

Gaurang added: “DGCX is embarking on a period of organic growth and we have maneuvered ourselves into a much stronger position allowing us to expand our product range, capabilities, and presence in both regional and international markets.”

ENDS

About DGCX: Established in 2005, DGCX is the region’s leading derivatives exchange and the only one allowing global participants to trade, clear and settle transactions within the Gulf region. The Exchange has played a pioneering role in developing the regional market for derivatives and financial infrastructure. DGCX is an electronic commodity and currency derivatives exchange with over 200 members from across the globe, offering futures and options contracts covering the precious metals, energy and currency sectors. DGCX is a subsidiary of DMCC (Dubai Multi Commodities Centre), a Dubai Government Authority for trade, enterprise and commodities.

For more information: www.dgcx.ae

DGCX also owns and operates the region’s largest and only multi-asset Clearing House – Dubai Commodities Clearing Corporation (DCCC). DCCC is federally regulated by the Securities & Commodities Authority (SCA) and is recognised as a Third-Country CCP by European Securities Markets Authority (ESMA) with over 80 clearers from across the globe.

For more information: www.dccc.co.ae

Further Information:
Meng Chan Shu
Director of Business Development and Sales
Dubai Gold and Commodities Exchange
Tel: +971 4 361 1660
Email: meng.shu@dgcx.ae

or

Dhanya Issac/Lara Batato
Weber Shandwick PRs
Tel: +971 4 445 4222
Email: lbatato@webershandwick.com or lbatato@webershandwick.com

Continue Reading

DGCX and DCCC Reinforces Its MENA Presence with Regulatory Recognition from ADGM

DGCX and DCCC Reinforces Its MENA Presence with Regulatory Recognition from ADGM

The FSRA Recognition allows ADGM registered entities to access DGCX and DCCC platforms for trading and clearing activities

Dubai, July 22, 2017: The Dubai Gold and Commodities Exchange (DGCX) and its CCP subsidiary, Dubai Commodities Clearing Corporation (DCCC) has been recognised as a remote Exchange and Clearing House by the Financial Services Regulatory Authority (FSRA), the regulatory authority for the Abu Dhabi Global Market (ADGM), enabling ADGM companies to access its trading and clearing platforms.

The recognition status takes effect immediately and enables financial institutions domiciled in the ADGM and licensed by the FSRA to become members of the DGCX, the region’s largest and most diversified derivatives exchange and clear through its globally recognized Clearing House, DCCC.

At present, Aarna Capital Limited, an ADGM domiciled brokerage house, is being on-boarded as the first member of DGCX and DCCC under the new status.

Gaurang Desai, Chief Executive Officer of the DGCX, commenting on the certification, said: “We are delighted about being the first Exchange and Clearing House to be granted remote recognition status by FSRA. The FSRA accreditation will enable us to offer the full range of our listed derivatives products in all asset classes to the burgeoning ADGM community. This recognition will support us in expanding our membership base and further bolsters our liquidity pool while bringing in more diverse participants to the DGCX marketplace. We also welcome Aarna Capital Limited to the DGCX family and look forward to extending our network of regional and global partnerships through institutions based within the ADGM.”

Richard Teng, Chief Executive Officer of the Financial Services Regulatory Authority of ADGM, said: “We congratulate DGCX as the first remote exchange and clearing house to join the ADGM family. This exciting development provides ADGM-licensed entities the platform to transact and clear commodity derivatives via DGCX’s regulated and transparent electronic marketplace, and gain access to a broader product base within ADGM.  We look forward to DGCX adding vibrancy to the capital markets in Abu Dhabi and the region.  As an international financial centre, ADGM will continue to actively advocate and maintain a well-regulated, dynamic and conductive environment that attracts and supports both local and global institutions in their growth aspirations and business needs.”

Financial institutions domiciled in ADGM and licensed by FSRA interested in applying for a DGCX membership must be licensed to carry out Futures and Options activities by the FSRA.

ENDS

 

About DGCX: Established in 2005, DGCX is the region’s leading derivatives exchange and the only one allowing global participants to trade, clear and settle transactions within the Gulf region. The Exchange has played a pioneering role in developing the regional market for derivatives and financial infrastructure. DGCX is an electronic commodity and currency derivatives exchange with over 200 members from across the globe, offering futures and options contracts covering the precious metals, energy and currency sectors.  DGCX is a subsidiary of DMCC (Dubai Multi Commodities Centre), a Dubai Government Authority for trade, enterprise and commodities. For more information: www.dgcx.ae

DGCX also owns and operates the region’s largest and only multi-asset Clearing House – Dubai Commodities Clearing Corporation (DCCC). DCCC is federally regulated by the Securities & Commodities Authority (SCA) and is recognized as a Third-Country CCP by European Securities Markets Authority (ESMA) with over 80 clearers from across the globe. For more information:www.dccc.co.ae

  

About ABU DHABI GLOBAL MARKET (ADGM) Abu Dhabi Global Market (“ADGM”), an international financial centre in the capital of the UAE, opened for business on 21st October 2015.   In line with the Abu Dhabi’s Economic Vision, ADGM is a natural extension of Abu Dhabi’s role as a reliable and responsible member of the global financial community. Strategically situated in Abu Dhabi, home to one of the world’s largest sovereign wealth funds, ADGM plays a pivotal role in positioning Abu Dhabi as a global centre for business and finance that connects the growing economies of the Middle East, Africa and South Asia.

ADGM’s three independent authorities, the Registration Authority, the Financial Services Regulatory Authority and ADGM Courts, enable companies to conduct their business efficiently within an international regulatory framework that has an independent judicial system and legislative infrastructure based on the Common Law.   Established by a UAE Federal Decree as a broad based financial centre, ADGM’s foundation is anchored on three of Abu Dhabi’s strategic strengths – private banking, wealth management and asset management and will continually expand its financial services in response to the needs of its businesses and marketplace.  For more details of ADGM, please visit www.adgm.com or follow us on Twitter: @adglobalmarket, @FinTechAD, #FinTechAD, and LinkedIn: ADGM

 

Further Information:

Meng Chan Shu

Director of Business Development and Sales

Dubai Gold and Commodities Exchange

Tel: +9714 361 1660

Email: meng.shu@dgcx.ae

OR

Dhanya Issac/Lara Batato

Weber Shandwick PR

Tel: +971 (0) 4 445 4222

Email: dissac@webershandwick.com/ lbatato@webershandwick.com

Continue Reading