Jignesh Shah, chairman, Financial Technologies of India
which along with the Indian exchange MCX holds
a large equity in the new Dubai commodity bourse
recently announced the opening the Dubai Gold and Commodities
Exchange (DGCX), the first of its kind in the Gulf.
balance equity in the new exchange lies with the Dubai
government. Several Indian brokerages have set up shop
in the Dubai commodity exchange that was opened for trading
is now the first Indian exchange to reach beyond the country's
shores. In a span of just two months, DGCX has received
a record 250 applications. The list almost of aspiring
members reads like a who's who of the world of finance.
got a shot in the arm with the decision of the largest
local bank, National Bank of Dubai along with HSBC became
clearing and settlement banks.