Browse
related articles
Mock trading will run from 31st October until 15th of November and will be open to all approved members of DGCX. Mock trading will operate exactly as live trading, except there will be no financial obligation to fulfill for any trades. As will be the case when fully operational, mock trading will be available from 10.00 AM to 11.30 PM, Monday through Friday. Mock trading serves both as a final test for all hardware, networks and system applications and also provides an avenue for members to gain complete familiarity with the systems and processes. Clearing banks will also participate in the mock sessions to test the efficacy of the funds settlement process between clearing members and the clearing corporation.
Framroze Pochara, Chief Executive of DGCX said,
"The launch of mock trading on DGCX is one more important step towards going live. As mock trading is an exact replica of the systems and procedures used in the live environment, it is a precursor to the live trading on 22nd November."
"As we near live trading on 22nd November, our primary goal is to ensure that all our members are ready to commence trading on day one and that our systems are robust, efficient and effective." Mr. Pochara added.
With an objective of implementing the best clearing and settlement practices, DGCX has incorporated its clearing corporation. DCCC will act as a counterparty for trades between the buyer and the seller. Thus it will guarantee the performance of the contract between transacting parties. The non-performance by one of the parties will not affect the other party, as the DCCC will take over the obligations of the defaulting party to ensure that settlement takes place as scheduled without any glitches. The guarantee of performance by the Clearing Corporation will provide comfort and confidence to the market participants and ensure the integrity of the market.
Posted by Lara Lynn Golden, News Editor
