Nasdaq and Dubai Gold & Commodities Exchange Sign Landmark Technology Agreement
August 10 2020 - 5:00AM
Today Nasdaq (Nasdaq: NDAQ) and Dubai Gold & Commodities
Exchange (DGCX) announced a major market technology agreement for
Nasdaq to provide DGCX with a full suite of integrated marketplace
solutions.
The marketplace solutions, delivered via the Nasdaq Financial
Framework, include multi-asset trading and real time clearing
capabilities, pre-trade risk management, as well as market
intelligence, market surveillance and quality assurance
applications required to safeguard the integrity of the market.
Nasdaq’s real-time clearing solution will provide DGCX with
high-velocity multi-asset class clearing, settlement and risk
management capabilities. These are designed for secure, efficient
and reliable operations and will allow DGCX to offer full clearing
capabilities to external marketplaces, both regionally and
globally.
“We are pleased to be partnering with Nasdaq in the next stage
of the development of DGCX, with their highly-renowned suite of
technology solutions that will enable us to provide our Members and
their clients with ever-increasing levels of service performance,”
said Les Male, CEO at DGCX. “Through this partnership, DGCX will be
able to offer services to other market infrastructure providers,
both in the region and beyond, as part of the broader vision to
develop capital markets in the UAE.”
“By adopting Nasdaq’s suite of scalable and robust technology,
DGCX can further execute on its strategy and vision to evolve its
marketplace for investors in the Middle East and beyond,” said Paul
McKeown, SVP and Head of Marketplace Operators and New Markets,
Market Technology, Nasdaq. “We look forward to supporting DGCX as
they continue to strengthen their position as a leading commodities
derivatives exchange and CCP in the Middle East.”
As a subsidiary of Dubai Multi Commodities Centre, DGCX is the
leading commodities derivatives exchange in the Middle East,
serving both the Middle Eastern and the global capital markets.
Nasdaq’s market technology powers more than 250 of the world’s
market infrastructure organizations and market participants,
including broker-dealers, exchanges, clearinghouses, central
securities depositories and regulators, in over 50 countries with
end-to-end, mission-critical technology solutions.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology company
serving the capital markets and other industries. Our diverse
offering of data, analytics, software and services enables clients
to optimize and execute their business vision with confidence. To
learn more about the company, technology solutions and career
opportunities, visit us on LinkedIn, on Twitter @Nasdaq,
or at www.nasdaq.com.
About Dubai Gold & Commodities Exchange
Dubai Gold & Commodities Exchange (DGCX) was
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
148 members from across the globe, offering futures and options
contracts covering the precious metals, energy, equities 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 regulated by the Securities &
Commodities Authority (SCA). It is recognised as a licensed Central
Clearing-Counterparty (CCP) by SCA and a Third-Country CCP by
European Securities Markets Authority (ESMA) with over 50 clearers
from across the globe. For more information: www.dccc.co.ae
Media Contacts
Nasdaq
Ryan Wells Mobile: +1 646 648 3887 ryan.wells@nasdaq.com
Yan-yan Tong Mobile: +46 (0)73 449 66 83
yan-yan.tong@nasdaq.com
Dubai Gold & Commodities Exchange
Weber Shandwick PR
Jonathan FisherTel: +971 (0) 4 445
4222JFisher@webershandwick.com
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