Dubai: The Dubai Gold & Commodities Exchange (DGCX) today welcomed a high-level delegation at its offices together with the Dubai Multi Commodities Centre (DMCC). The delegation, led by the UAE Minister of Economy H.E. Abdulla bin Touq Al Marri and Securities and Commodities Authority (SCA) Acting CEO H.E. Dr. Maryam Al Suwaidi, was aimed at strengthening ties as well as supporting the growth and development of the trading of financial derivatives in gold, other commodities, foreign stocks, indices and currencies.
Senior representatives from both the DGCX and DMCC were on-hand to receive the group, including the Executive Chairman and Chief Executive Officer of DMCC and Chairman of DGCX Ahmed bin Sulayem, DGCX CEO Les Male, as well as Board Member Feryal Ahmadi, in addition to DGCX Directors.
During the visit, H.E. Abdulla bin Touq Al Marri and H.E Dr. Al Suwaidi toured DGCX’s office and DMCC’s headquarters in Almas Tower. The delegation was also briefed on the state-of-the-art Dubai Diamond Exchange, UAE Kimberley Process office, DMCC Vault, and Diamond Foundry’s Dubai facility.
The visit also presented an important opportunity to discuss ongoing ties and collaboration between DGCX and SCA, in addition to current developments, challenges and opportunities in the market, and to demonstrate the DGCX group’s services and leading platform to the H.E. Minister of Economy. The delegation also discussed the launch of a variety of new Futures Contracts with the DGCX team.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, and Chairman of DGCX, said: “Today’s visit from His Excellency Abdulla Bin Touq and Her Excellency Dr. Maryam Al Suwaidi demonstrates the key role that DMCC plays in advancing the UAE’s economy. We look forward to continue working alongside the Ministry and SCA as together, we help shape the future of trade and place Dubai at its very centre.”
Les Male, CEO of DGCX said: “This visit is a testament to the close ties we have with both the Ministry of Economy and SCA. We are very proud of this relationship and look forward to working with them as we explore the launch of a number of new Futures Contracts. It is their forward thinking and support that helps to achieve new milestones and cement our role in the UAE – and as we look to become the Exchange and Clearing House of choice for the GCC.”
The Dubai Gold & Commodities Exchange (DGCX) is the region’s leading derivatives exchange and has played a pioneering role in developing the regional market for derivatives trading, clearing and settlement.
The DGCX owns and operates the region’s largest and only multi-asset Clearing House – Dubai Commodities Clearing Corporation (DCCC). DGCX & DCCC are 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).
The DGCX’s strategic geographic location in Dubai between the Far East, Europe and Africa serves as a unique, global window for traders and investors. With over 100 members across the world, the DGCX drives liquidity in the market by offering a broad range of futures and options contracts covering base and precious metals – including the world’s only Shari’ah Compliant Spot Gold Contract – hydrocarbons, equities and currencies.
© Press Release 2021