Nasdaq and Dubai Gold & Commodities Exchange (DGCX) has signed an agreement enabling the derivatives exchange to avail a full suite of integrated marketplace solutions via Nasdaq Financial Framework (NFF).

The marketplace solutions, delivered via the NFF, are expected to provide DGCX members and their clients with ever-increasing levels of service performance, a statement from DGCX said.

The solutions 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.

Les Male, CEO at DGCX, said: “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.”

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.

(Writing by Seban Scaria ; editing by Daniel Luiz)

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