Monday, 26 October 2015

DGCX collaborates with Pakistan Mercantile Exchange Ltd.

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.