 The Dubai Gold & Commodities Exchange (DGCX),
UAE's leading derivatives bourse, and the Pakistan Mercantile Exchange
Limited (PMEX), a pre-eminent derivatives exchange in Pakistan, today
announced that they have agreed to create a forum to work together,
share information, and bridge connections between the financial markets
of Pakistan and UAE.
Gaurang Desai, CEO of DGCX,
commenting on the development, said: "The arrangement with PMEX will
enable DGCX to develop a better understanding of Pakistan's derivatives
markets at a time when these markets are evolving rapidly and the
economy is on a growth trajectory. We believe this agreement will build
upon the business relationships we have established in other Asian
markets and provide an important foundation for the development of
futures markets in Pakistan."
Ejaz Ali Shah, Managing Director of PMEX,
further stated on this occasion: "It is an exciting time for us to be
collaborating with DGCX. We see various similarities between both
Exchanges, one of them being our mutual commitment to provide a
world-class commodity futures platform for market participants, driven
by best global practices, professionalism and transparency. We are also
both leaders in selling and trading gold in our respective markets.
Therefore, the partnership is only a natural and expected step forward
for both entities, as we join hands to contribute to the derivatives
global market."
This
development adds to the extensive list of collaboration efforts DGCX
has previously inked, with the aim of expanding their international
outreach to financial institutions around the globe.
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