FXCM Group, the leading online retail FX, CFD and Crypto brokerage firm has partnered with The Dubai Gold and Commodities Exchange (DGCX) to launch new trading products in the coming months. Both the companies have signed a Memorandum of Understanding (MoU) agreeing to collaborate on launching new and innovative products on the DGCX Exchange.
The agreement had been signed at FXCM’s London headquarters at the beginning of December. This partnership will enable new opportunities in the Middle-East market for both FXCM and DGCX. The new products will not only appeal to exchange’s international participants but also local banks and trading houses. This agreement was signed by DGCX CEO, Les Male and FXCM MD & Global Head of FXCM Pro Sales, Mario Sanchez.
Les Male, Chief Executive Officer of DGCX, stated:
“It is our aim to ensure that we continue to offer our members and market participants truly innovative contracts, backed by our state of the art technology and Clearing House. These contracts must appeal to not only our international participants, but also to local banks and trading houses too. This MOU with FXCM is the first step in developing ever more pioneering contracts contributing to the DGCX’s global offerings allowing us to cross-pollinate each other’s diverse client base.”
Mario Sanchez-Wandemberg, Managing Director, FXCM Group, also added:
“This partnership will expand both companies’ footprint in this region and will allow its members to experience the many benefits of trading with DGCX. With FXCM’s long history and expertise as one of the world’s leading FX and CFD brokers, working alongside Dubai’s first commodity derivatives exchange, we know that we can create new innovative product offerings and are enthusiastic on the many possibilities. We look forward to sharing them with the market in the future.”
About DGCX : DGCX is established in 2005 is an electronic commodity and derivatives exchange with over 175 members across the globe. It offers F&O contracts in the precious metals, energy, equities and currency sectors. DGCX also owns and operates the region’s largest and only multi-asset Clearing House – Dubai Commodities Clearing Corporation (DCCC).