DUBAI- Nasdaq (Nasdaq: NDAQ) and Dubai Gold & Commodities Exchange, DGCX, today 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.
"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 a 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 organisations 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.
© Copyright Emirates News Agency (WAM) 2020.