Dubai Gold and Commodities Exchange Becomes ‘Recognized Body’ by DFSA
- By gaining ‘Recognized Body’ status from the DFSA, it allows the DGCX to become more easily accessible by licensed financial firms in Dubai.
The Dubai Gold and Commodities Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (DGCX) has announced that it has been granted ‘Recognized Body’ status by the Dubai Financial Services Authority (DFSA). The status covers both the exchange, and the Dubai Commodities Clearing Corporation (DCCC), the DGCX’s central counterparty operating unit.
The new status allows firms domiciled in the Dubai International Financial Centre (DIFC) and licensed by the DFSA, to become members of the DGCX. As members, financial firms can access directly all products listed for trade and cleared by the DGCX.
According to the DGCX, they believe that the net result of the recognition will be an increase of local firms becoming members and trading with the exchange; thus boosting Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term of listed derivative products. A global leader in Indian rupee trading, as well as a regional center for gold derivatives liquidity, the DGCX has been active in launching other currency and metal related products which could get a boost from new members accessing the exchange.
Commenting on the news and its expected positive effects, Gaurang Desai, Interim CEO of DGCX, stated publicly that “We are extremely pleased to receive this recognition from the DFSA, which will enable us to offer the full range of our listed derivatives products in all asset classes to the established and fast-growing DIFC community. This recognition will expand our membership base and further strengthen our liquidity pool while bringing more diverse participants into the DGCX market. We look forward to extending our network of regional and global partnerships through institutions based within the DIFC.”
The Dubai Gold and Commodities Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (DGCX) has announced that it has been granted ‘Recognized Body’ status by the Dubai Financial Services Authority (DFSA). The status covers both the exchange, and the Dubai Commodities Clearing Corporation (DCCC), the DGCX’s central counterparty operating unit.
The new status allows firms domiciled in the Dubai International Financial Centre (DIFC) and licensed by the DFSA, to become members of the DGCX. As members, financial firms can access directly all products listed for trade and cleared by the DGCX.
According to the DGCX, they believe that the net result of the recognition will be an increase of local firms becoming members and trading with the exchange; thus boosting Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term of listed derivative products. A global leader in Indian rupee trading, as well as a regional center for gold derivatives liquidity, the DGCX has been active in launching other currency and metal related products which could get a boost from new members accessing the exchange.
Commenting on the news and its expected positive effects, Gaurang Desai, Interim CEO of DGCX, stated publicly that “We are extremely pleased to receive this recognition from the DFSA, which will enable us to offer the full range of our listed derivatives products in all asset classes to the established and fast-growing DIFC community. This recognition will expand our membership base and further strengthen our liquidity pool while bringing more diverse participants into the DGCX market. We look forward to extending our network of regional and global partnerships through institutions based within the DIFC.”