Dubai Gold & Commodities Exchange to run on Nasdaq trading technology

The Dubai Gold & Commodities Exchange (DGCX) has selected Nasdaq solutions for its new trading platform.

The marketplace products, 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.

In a statement, DGCX said Nasdaq’s real-time clearing solution will provide it with high-velocity multi-asset class clearing, settlement and risk management capabilities.

These products will allow DGCX to offer full clearing capabilities to external marketplaces, both regionally and globally.

Les Male, CEO at DGCX said: “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.”

DGCX is a subsidiary of Dubai Multi Commodities Centre, a major commodities derivatives exchange in the Middle East, serving both the Middle Eastern and the global capital markets.

Nasdaq says its market technology powers more than 250 market infrastructure organisations and market participants in over 50 countries, including broker-dealers, exchanges, clearinghouses, central securities depositories and regulators.

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