|21 March, 2020

DGCX Group response to COVID-19

DGCX continues to operate as normal across both the exchange and clearing house

Dubai: The DGCX Group has robust, and frequently tested business continuity procedures in place designed to deal with a wide variety of potential developments to ensure service resiliency, availability and stability across trading and clearing platforms. These procedures cover unforeseen events, crisis, or out-of-the-ordinary operating environments, and can be adapted as the circumstances dictate.

In response to COVID-19, and in accordance with UAE Federal government and WHO guidelines, the DGCX Group has invoked these procedures to ensure the safety and well-being of both its employees and visitors to the DGCX Group. As a result, the DGCX Group has implemented travel and meeting restrictions, split-team and split-site working for employees. 

However, the DGCX Group’s market continues to operate normally across both the exchange and clearing house, providing secure and reliable price discovery and risk management services to Members and their clients. While the market has experienced high levels of activity the DGCX Group remains committed to providing these services as usual. It is not expected but any change to the normal operation of either the market or the clearing functions will be communicated to the market by way of Notice.

The safety and well-being of employees is the highest priority of the DGCX Group, as is the commitment and responsibility to continue to operate the exchange and clearing house.

For further information, please contact:
Jonathan Fisher
Weber Shandwick PR
Tel: +971 52 935 9464 
Email: JFisher@webershandwick.com

-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 175 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 federally 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 60 clearers from across the globe. For more information: www.dccc.co.ae 

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.