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Sunday, November 29 - 2009

Leading brokerage firm Newedge offers improved connectivity to DGCX for its global client base

  • United Arab Emirates: Monday, August 24 - 2009 at 12:59
  • PRESS RELEASE

Newedge, a leading Broker and Clearing firm, is now using a Dubai Point of Presence (POP) connection to facilitate access to the Dubai Gold & Commodity Exchange (DGCX).

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The new connection means that traders from around the world can trade DGCX contracts via a fixed, high bandwidth and more secure communication line rather than an internet-based connection.

Newedge offers global multi-asset brokerage services including execution, clearing, inter-dealer brokerage and prime brokerage to financial institutions, investors, asset managers, hedge funds and corporates. The new fixed line capability significantly improves the reliability and timeframe for processing quotes, trades and market data.

"Speed and connectivity are paramount to ensuring the seamless execution of derivatives transactions. DGCX already has the unique advantage of being located in a strategic time zone and location between the markets of the West and the Far East. Newedge provides the latest innovative technology for its client base and we are delighted that customers across the globe can now access our contracts via Newedge's advanced, low latency connectivity,"


said Malcolm Wall Morris, Chief Executive Officer, DGCX.

Commenting on its fixed line capacity, Amaury de Villemandy, CEO Newedge Europe & Middle East, said, "Newedge is a leading and premium choice for exchange-based execution and offers a robust trading platform to a growing base of global clients. Our investment in establishing direct connectivity to DGCX was based on the increased interest among our clients in capitalizing on the commodity and currency trading opportunities offered by the Exchange."
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Notes and media contacts

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 commodity derivatives marketplace in the time zone between Europe and the Far East. DGCX is an initiative of the Dubai Multi Commodities Centre (DMCC), Financial Technologies (India) Limited and Multi Commodity Exchange of India Limited (MCX).

About Newedge: Newedge, a 50/50 joint venture between Société Générale and Calyon, is a major force in global multi-asset brokerage business, with a world-leading position in the execution and clearing of listed derivative products. With a presence in 25 locations in 17 countries, Newedge offers a full range of clearing and execution services covering options and futures contracts for financial products and commodities, as well as for money market instruments, bonds, FX, equities, and commodities on OTC markets. Newedge provides a range of value added services, including prime brokerage, asset financing, an electronic platform for trading and order routing, cross margining, and the centralized reporting of client portfolios. Newedge, which primarily serves institutional clients, provides access to more than 85 exchanges. Newedge's 3000+ employees form a close-knit, multinational team that can innovatively respond to its clients in fast-moving markets.

Further Information DGCX:

Claire Miller, Head of Marketing
Tel: +971 (0)4 361 1625

Freeda D'Souza, Weber Shandwick
Tel: +971 (0)4 321 0077

Further Information Newedge:

Press Contact
Siobhan Janaway, Head of Communications, EMEA, Tel: +44 20 7676 8051

Clayton McGratty, Intermarket Communications, Tel: +1 212 754 5425

Dubai Office Contact
Paul Eid, Head of Newedge Dubai
Tel: +971 4704 9704

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