Business | Markets
Dubai and Tokyo commodity bourses sign agreement to enhance ties
The Tokyo Commodity Exchange (Tocom), the world's leading bullion and energy exchange, and the Dubai Gold and Commodities Exchange (DGCX) have signed an agreement aimed at developing cooperation and information sharing.
- Staff Report
- Published: 00:00 August 22, 2006
Dubai: The Tokyo Commodity Exchange (Tocom), the world's leading bullion and energy exchange, and the Dubai Gold and Commodities Exchange (DGCX) have signed an agreement aimed at developing cooperation and information sharing.
The MoU was signed at Tocom's office in Tokyo by Masaaki Nangaku, Chairman of Tocom and Colin Griffith, Chairman of DGCX. Also present at the ceremony were Ahmad Bin Sulayem and Arshad Khan, directors of DGCX and Framroze Pochara, chief executive of DGCX.
Based on this agreement, Tocom and DGCX will engage in documentation and information sharing, with the common goal of development of both markets.
"We strongly believe that this relationship will ensure further development of both the Tocom and the DGCX markets," said Nangaku.
Griffith said that he was very pleased with the new collaboration. "It is a privilege to be associated with one of the world's premier organisations in commodities trade. Since DGCX is the only international commodities and currencies derivatives exchange in the time zone between Europe and the Far East, this collaboration is sure to yield very good results."
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