DGCX selects Cinnober's trading, clearing and surveillance technology
First Published 25th June 2012
Dubai Gold & Commodities Exchange to enhance infrastructure through new partnership with Cinnober
Javier Tordable, CEO, Cinnober
"Our partnership will ensure the DGCX continues to play a leading role in the development of the regional derivatives market."
Stockholm - Dubai Gold & Commodities Exchange (DGCX) has announced its partnership with trading technology provider, Cinnober Financial Technology.
Cinnober will provide both a new exchange infrastructure and its market surveillance system Scila Surveillance for DGCX. The exchange infrastructure is scheduled to go live in December 2012 following a phased implementation.
Ahmed Bin Sulayem, Chairman of Dubai Gold & Commodities Exchange said: "This represents a major milestone in the development of the DGCX trading and clearing platform. The new system will give DGCX the very latest, innovative technology that will support our plans to create the region's most advanced derivatives marketplace and increase the portfolio of products for our Members."
Commenting on the partnership agreement, Javier Tordable, CEO of Cinnober, said: "DGCX has ambitious growth plans in the coming years and we are confident that our TRADExpress platform will support the expected volume growth and the launch of new and innovative products. Our partnership will ensure the DGCX continues to play a leading role in the development of the regional derivatives market."