DGCX approved as 'Recognised Market Operator' by Monetary Authority of Singapore

Strengthening its position as a global market for commodities derivatives, Dubai Gold and Commodities Exchange (DGCX) announced that it had secured approval from the Monetary Authority of Singapore (MAS), making DGCX a Recognised Market Operator (RMO) in Asia's key trading hub.

United Arab Emirates: Thursday, January 24 - 2008 at 13:26
PRESS RELEASE

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With the approval, DGCX, the Middle East's first commodities derivatives market,
may now offer Singapore-based market participants direct access to its growing portfolio of commodity and currency contracts.

Commenting on this approval, Ahmed Bin Sulayem, Chairman, DGCX, said, 'Not only will this approval create opportunities for market participants based in Singapore, but is a clear demonstration of our commitment to meet customer demand for wider marker access'.

Highlighting the significance of the move, Malcolm Wall Morris, Chief Executive Officer (CEO), DGCX said, 'This development makes DGCX available to one of the most vibrant markets in South East Asia. In combination with our recent Memorandum of Understanding (MOU) with Bursa Malaysia it further emphasises our commitment to developing our markets in the Far East'.

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About DGCX
Dubai Gold and Commodities Exchange (DGCX) is a fully automated, online commodities exchange. Strategically located in Dubai, the exchange is the first international commodities derivatives marketplace in the time zone between Europe and the Far East. DGCX is an initiative of the Dubai Multi Commodities Centre (DMCC), Government of Dubai, the majority shareholder, Financial Technologies (India) Limited and Multi Commodity Exchange of India Limited (MCX).

For further information please contact:

Christina Sitlani
Senior Manager Marketing
Dubai Gold & Commodities Exchange
Dir: +9714 361 1613
Fax: +9714 361 1617

Posted by Staff
Thursday, January 24 - 2008 at 13:26 UAE local time (GMT+4)

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