ID :
20731
Tue, 09/23/2008 - 12:59
Auther :
Shortlink :
https://oananews.org//node/20731
The shortlink copeid
DGCX takes lead in commodity derivatives market
Dubai, Sept 23, 2008 (WAM) - The Dubai Gold and Commodities Exchange (DGCX) said it has become a leading newcomer in the international derivatives space this year, spurred by strategic product launches, record trade between Asia and the Middle East and growing interest in commodities according to a report in ‘Gulf News.’
"Increased commodity trade in emerging Asian economies coupled with a global shift in capital to commodities, has fuelled overall demand for commodity derivatives.
In line with this trend, DGCX strengthened its product portfolio in 2008, providing market participants in Asia, the Middle East and beyond with local arbitrage tools for a wider range of commodities," Nishat Bandali, the exchange's chief marketing officer told an energy industry conference in Singapore.
Bandali said year-on-year volumes on the exchange grew 54 per cent, with total 2007 volume surpassed in the first eight months of this year.
DGCX launched the region's first WTI and Brent crude oil futures contracts this year, offering the large liquidity pools of Asia and the Middle East the opportunity to access one of the world's most strategic commodities without the operational complexities and cost inefficiencies of having to trade via the US or UK, Bandali added.
In a bid to expand its reach and offer Singapore-based market participants direct access to its growing portfolio of commodity and currency contracts, DGCX secured approval from the Monetary Authority of Singapore and became a Recognised Market Operator (RMO) earlier this year.
The exchange was also recently ranked first for relationship management and fee structure and fourth overall among leading international exchanges by the Future and Options Week buy-side survey.
"Increased commodity trade in emerging Asian economies coupled with a global shift in capital to commodities, has fuelled overall demand for commodity derivatives.
In line with this trend, DGCX strengthened its product portfolio in 2008, providing market participants in Asia, the Middle East and beyond with local arbitrage tools for a wider range of commodities," Nishat Bandali, the exchange's chief marketing officer told an energy industry conference in Singapore.
Bandali said year-on-year volumes on the exchange grew 54 per cent, with total 2007 volume surpassed in the first eight months of this year.
DGCX launched the region's first WTI and Brent crude oil futures contracts this year, offering the large liquidity pools of Asia and the Middle East the opportunity to access one of the world's most strategic commodities without the operational complexities and cost inefficiencies of having to trade via the US or UK, Bandali added.
In a bid to expand its reach and offer Singapore-based market participants direct access to its growing portfolio of commodity and currency contracts, DGCX secured approval from the Monetary Authority of Singapore and became a Recognised Market Operator (RMO) earlier this year.
The exchange was also recently ranked first for relationship management and fee structure and fourth overall among leading international exchanges by the Future and Options Week buy-side survey.
