Nasdaq to deliver marketplace solutions to Dubai's DGCX

Dubai: Nasdaq has struck a technology deal with Dubai Gold & Commodities Exchange (DGCX) by which the Dubai entity will be provided with a full suite of marketplace solutions.

The marketplace solutions, delivered via the Nasdaq Financial Framework, include multi-asset trading and real-time clearing, pre-trade risk management, as well as market intelligence, market surveillance and quality assurance applications.

DGCX will also have access to high-velocity multi-asset class clearing, settlement and risk management capabilities. “We are pleased to be partnering Nasdaq in the next stage of the development of DGCX,” said Les Male, CEO at DGCX. “Through this partnership, DGCX will be able to offer services to other market infrastructure providers, both in the region and beyond, as part of the broader vision to develop capital markets in the UAE.”

As a subsidiary of Dubai Multi Commodities Centre, DGCX is the leading commodities derivatives exchange in the Middle East.

Nasdaq’s market technology powers more than 250 of the world’s market infrastructure organizations and market participants.