Veronica Augustsson, CEO, Cinnober
"We are proud that our strategic collaboration will support DGCX's leadership role in developing and shaping the regional derivatives market."
Dubai Gold & Commodities Exchange (DGCX) has announced that its new trading platform, the EOS Trader Platform, has gone live. The activation of the EOS Trader Platform marks the completion of DGCX's new technology infrastructure.
In 2012, the Exchange partnered with Cinnober to develop a technology platform designed to support DGCX Members' trading requirements.
The advanced platform aims to provide DGCX's Member community with improved transaction speeds, more efficient means to access liquidity, higher reliability, enhanced trading flexibility and connectivity. The upgrade will provide low latency network access, risk-management, surveillance and clearing capabilities.
The new technology enables the Exchange to offer contracts in multiple currencies including UAE dirhams - making it possible for users to provide quotes in multiple currencies. DGCX will also be able to offer 24-hour market support on the new platform.
Gary Anderson, CEO of Dubai Gold & Commodities Exchange said: "We are delighted to have completed the implementation of our new technology infrastructure. The feedback we have received from our Members and the wider trading community has been very encouraging. The new trading technology provides cost effective services and enables Members to place, cancel and modify all their orders quickly, substantially enhancing overall efficiency and reducing risks. DGCX has ambitious growth plans and we are confident that the new platform will support the expected volume growth and the launch of new and innovative products on the Exchange."
The core trading and clearing applications of DGCX's new technology infrastructure are built on Cinnober's TRADExpress platform.
Commenting on the successful implementation of the project, Veronica Augustsson, CEO of Cinnober, said: "The new customized exchange platform, including trading, clearing and surveillance, will provide DGCX Members with a cutting-edge trading interface and state-of-the-art functionalities, and most importantly will enable them to monitor risk in real time. We are proud that our strategic collaboration will support DGCX's leadership role in developing and shaping the regional derivatives market."