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Newedge improves Dubai Gold & Commodity Exchange connection

24 August 2009  |  1832 views  |  0 Source: Newedge

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).

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." said Malcolm Wall Morris, Chief Executive Officer, DGCX. "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," he said.

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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