GL Trade connects to Dubai Gold & Commodities Exchange

Source: GL Trade

GL Trade, global provider of integrated software solutions to the financial institutions, has added a new gateway offering access to the Dubai Gold & Commodities Exchange (DGCX) to their existing wide range of electronic exchange connectivity.

The DGCX, the first International Commodities Exchange to be established in the Middle East back in late 2005, is an electronic exchange offering a range of contracts including futures on gold (and options), silver, currencies and fuel oil. Recently it announced the much awaited worlds first Indian Rupee currency futures contract will be launched on the 7th June. Its geographical location and extended trading hours allows participants to bridge the gap effectively between the established Asian and European markets days.

GL Trade has developed a gateway directly connected to the central system of the exchange. The group will offer market data and electronic order routing to all local and international members as well as their clients. GL TRADE already connects to more than 130 electronic exchanges worldwide, including equity and derivatives markets, including commodities.

Colin Griffith, Chairman of DGCX commented; "we have worked closely with GL TRADE to achieve a complete and successful test and we now look forward to welcoming order flow from the GL TRADE customer community."

Jean Pierre Baron, Managing Director Trading Systems added, "We are pleased to reinforce our position offering unrivalled access to global electronic markets and this new DGCX gateway reflects the emphasis we have placed on bolstering our offerings in the Middle East recently."

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