Dubai, October 22, 2015: The Dubai Gold & Commodities Exchange (DGCX), UAE's leading derivatives bourse, and the Pakistan Mercantile Exchange Limited (PMEX), a pre-eminent derivatives exchange in Pakistan, today announced that they have agreed to create a forum to work together, share information, and bridge connections between the financial markets of Pakistan and UAE.

Gaurang Desai, CEO of DGCX, commenting on the development, said: "The arrangement with PMEX will enable DGCX to develop a better understanding of Pakistan's derivatives markets at a time when these markets are evolving rapidly and the economy is on a growth trajectory. We believe this agreement will build upon the business relationships we have established in other Asian markets and provide an important foundation for the development of futures markets in Pakistan."

Ejaz Ali Shah, Managing Director of PMEX, further stated on this occasion: "It is an exciting time for us to be collaborating with DGCX. We see various similarities between both Exchanges, one of them being our mutual commitment to provide a world-class commodity futures platform for market participants, driven by best global practices, professionalism and transparency. We are also both leaders in selling and trading gold in our respective markets. Therefore, the partnership is only a natural and expected step forward for both entities, as we join hands to contribute to the derivatives global market."

This development adds to the extensive list of collaboration efforts DGCX has previously inked, with the aim of expanding their international outreach to financial institutions around the globe.

About DGCX:
Established in 2005, DGCX is the region's first derivatives exchange and the only one allowing participants to clear and settle transactions within the Gulf region. The Exchange has played a pioneering role in developing the regional market for derivatives.  DGCX is majority owned by Dubai Multi Commodities Centre (DMCC), a strategic initiative of the Government of Dubai, with a mandate to enhance commodity trade flows through the Emirate by providing the appropriate physical, market, financial infrastructure and services required. It is an electronic commodity and currency derivatives exchange with 267 members from across the globe, offering futures and options contracts covering the precious metals, energy and currency sectors.  For more information: www.dgcx.ae

About PMEX:
PMEX is the first technology driven, web-based, demutualized commodity exchange in Pakistan, offering a diverse range of domestic and international commodities and financial futures. Set up in May 2007, it is licensed and regulated by the Securities and Exchange Commission of Pakistan and has a 100 % institutional shareholding. These include the National Bank of Pakistan, Karachi Stock Exchange, Lahore Stock Exchange, Islamabad Stock Exchange, Pak Kuwait Investment Company (Pvt.) Limited, and Zarai Taraqiati Bank Ltd. The Exchange has a member base of 320 and the average notional daily trading volume is normally in the range of PKR 3 to 5 billion.

Further Information:
Andrita Mallik
Head of Sales & Relationship Management
Dubai Gold and Commodities Exchange
Tel: +9714 361 1632 Email: Andrita.Mallik@dgcx.ae

Dhanya Isaac/Lara Batato
Weber Shandwick PR
Tel: +971 (0) 4 445 4222;
Email: disaac@webershandwick.com; lbatato@webershandwick.com

© Press Release 2015