Dubai: The Dubai Gold & Commodities Exchange, DGCX, has welcomed INTL FCStone Commodities DMCC as a Trade Member of the Exchange.
Gaurang Desai, Chief Executive Officer of DGCX, said, “We are delighted to welcome INTL FCStone to the DGCX community. As a leading bullion industry participant, we look forward to working with its globally respected team in building our recently launched Dubai Spot Gold Contract and a number of other products. Dubai Gold Spot Contract is an initiative to promote transparent Loco-Dubai price discovery and facilitate physical delivery of 1kg gold bars on a safe, well regulated and reputable exchange platform.”
Philip Smith, CEO for EMEA & Asia, INTL FCStone, said, “Dubai and the surrounding Mena region represents a central part of our global precious metals business and broader business strategy. Providing our customers access to markets was the driving force behind our decision to join DGCX, and we are grateful to the exchange for this opportunity.”
INTL FCStone has offices in London, Singapore, Shanghai, Dubai and the US. It serves banks and financial institutions, producers, bullion wholesalers and traders, refiners and smelters, government agencies, and jewellery manufacturers. INTL’s memberships include the London Bullion Market Association, the London Platinum and Palladium Market, the Singapore Bullion Market Association, and now, the Dubai Gold and Commodities Exchange.
