elcomes INTL FCStone into its member community
The Dubai Gold & Commodities Exchange (DGCX) is pleased to welcome INTL FCStone Commodities DMCC as a Trade Member of the Exchange. INTL FCStone Inc., including its subsidiaries, is a leader in the development of specialized financial services in commodities, securities, global payments, foreign exchange and other markets.
INTL FCStone’s Precious Metals offers a full range of trading and hedging capabilities from offices in London, Singapore, Shanghai, Dubai and the U.S. It serves banks and financial institutions, producers, bullion wholesalers and traders, refiners and smelters, government agencies, and jewelry manufacturers.
INTL’s memberships include, but are not limited to, the London Bullion Market Association, the London Platinum and Palladium Market, Singapore Bullion Market Association and now, the Dubai Gold & Commodities Exchange.
Gaurang Desai, Chief Executive Officer of DGCX said, “We are delighted to welcome INTL FCStone to the DGCX community. As a leading bullion industry participant, we look forward to work with its globally respected team in building our recently launched Dubai Spot Gold Contract and a number of other products. Dubai Gold Spot Contract is an initiative to promote transparent Loco-Dubai price discovery and facilitate physical delivery of 1 Kg Gold bars on a safe, well regulated and reputable Exchange platform.”
Philip Smith, CEO for EMEA & Asia, INTL FCStone, said “Dubai and the surrounding MENA region represents a central part of our global precious metals business and broader business strategy. Providing our customers access to markets was the driving force behind our decision to join DGCX and we are grateful to the exchange for this opportunity.”
Further information on INTL FCStone is available at www.intlfcstone.com.
About INTL FCStone Inc.: INTL FCStone Inc., including its subsidiaries, is a leader in the
development of specialized financial services in commodities, securities, global payments,
foreign exchange and other markets. Our revenues are derived primarily from financial
products and advisory services that fulfill our clients’ real needs and provide bottom-line benefits to their businesses. We create added value for our clients by providing access to global financial markets using our industry and financial expertise, deep partner and network relationships, insight and guidance, and integrity and transparency. Our client-first approach engenders trust, and has enabled us to establish leadership positions in a number of complex fields in financial markets around the world.
About DGCX:Established in 2005, DGCX is the region’s first derivatives exchange and the only one allowing participants to clear and settle transactions within the Gulf region. The Exchange has played a pioneering role in developing the regional market for derivatives.
DGCX is a subsidiary of Dubai Multi Commodities Centre (DMCC), a strategic initiative of the Government of Dubai, with a mandate to enhance commodity trade flows through the Emirate by providing the appropriate physical, market, financial infrastructure and services required. It is an electronic commodity and currency derivatives exchange with 267 members from across the globe, offering futures and options contracts covering the precious metals, energy and currency sectors. For more information: www.dgcx.ae
The post FCStone Opens in Dubai appeared first on Live Trading News.