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Man Financial is one of the world's leading independent derivatives execution and clearing houses. It acts as a broker of futures, options and other derivatives for both institutional and private clients and as an intermediary in the world's metals, energy and foreign exchange markets with offices in key financial centres. Man Financial has consistently achieved a leading position on the world's largest futures and options exchanges, with particular strengths in interest rate products, metals and the energy markets.
In November 2005, Man Group agreed to acquire for $282 million the customer accounts, balances and certain other assets of Refco LLC.
Commenting on the latest good news to come from the DGCX, Director, Ahmed Bin Sulayem said,
"The first quarter of 2006 has been an outstanding one for the DGCX. We are achieving substantial trading figures in barely four months of existence.
With the support and endorsement coming from blue chip financial institutions such as Man Financial the trading figures will get further boosted. It also underscores the attention that DGCX as an exchange is drawing globally and Dubai strengthening its place among important financial centers of the world. It is extremely gratifying to welcome Man Financial on board, and I am confident that they will benefit greatly from our inevitable continuing development."
Vineet Bhatnagar, Managing Director of Man Financial (India) Private Limited added,
"The DGCX has already had an impact on the commodity trading world. That it is still in its infancy makes it all the more remarkable. We are impressed with the systems in place and the people that are putting the whole thing together. We have high hopes for the DGCX and for our operations in Dubai."
Posted by Anne-Birte Stensgaard, Senior News Editor
