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Nasdaq and Dubai Gold & Commodities Exchange Sign Landmark Technology Agreement.

Nasdaq and Dubai Gold & Commodities Exchange Sign Landmark Technology Agreement.

Today Nasdaq (Nasdaq: NDAQ) and Dubai Gold & Commodities Exchange (DGCX) revealed a major market technology agreement for Nasdaq to provide DGCX with a full suite of integrated marketplace solutions.

The marketplace resolutions, passed via the Nasdaq Financial Framework, constitute multi-asset trading also real-time clearing capabilities, pre-trade risk management, as well as market intelligence, market surveillance and quality assurance applications needed to safeguard the honour of the market.

Nasdaq’s real-time clearing solution will provide DGCX with high-velocity multi-asset class clearing, settlement and risk management capabilities. 

These are created for secure, effective and secure operations and will allow DGCX to give full clearance inclinations to external marketplaces, both regionally and globally.

“We are pleased to be partnering with Nasdaq in the next stage of the development of DGCX, with their highly-renowned suite of technology resolutions that will allow us to present our Members and their customers with ever-increasing levels of service performance,” said Les Male, CEO at DGCX. 

“Through this partnership, DGCX will be able to offer services to other market infrastructure providers, both in the region and beyond, as part of the broader idea to develop capital markets in the UAE.”

“By adopting Nasdaq’s suite of scalable and lively technology, DGCX can further execute on its strategy and concept to evolve its marketplace for investors in the Middle East and beyond,” said Paul McKeown, SVP and Head of Marketplace Operators and New Markets, Market Technology, Nasdaq. 

“We look ahead to supporting DGCX as they continue to strengthen their position as a leading commodities derivatives exchange and CCP in the Middle East.”

As a subsidiary of Dubai Multi Commodities Centre, DGCX is the leading commodities derivatives exchange in the Middle East, serving both the Middle Eastern and the global capital markets.

Nasdaq’s market technology powers more than 250 of the world’s market infrastructure organizations and market participants, including broker-dealers, exchanges, clearinghouses, central securities depositories and regulators, in over 50 countries with end-to-end, mission-critical technology solutions.