Abu Dhabi: The Dubai Gold and Commodities Exchange (DGCX) on Monday signed a memorandum of understanding with the Chinese Gold and Silver Exchange Society (CGSE) in Hong Kong.
This collaboration will enable both DGCX and CGSE to deepen their penetration into emerging markets, and further develop the precious metals markets in Asia and the Middle East and North Africa region.
The memorandum will also pave the way for enhancing the positions of both exchanges as benchmark reference pricing venues, and further establish the exchanges as prime centres by connecting Asia and the Middle East.
“This partnership with CGSE marks a natural next step in achieving our underlying vision which is to connect markets and facilitate more global trade. We look forward to collaborating with the CGSE to further support the economic development agenda of China and the UAE,” said Gautam Sashittal, chief executive officer of DMCC, the parent company of DGCX; and board director of DGCX.
Under the agreement, both the exchanges will collaborate to identify the best models to increase trading activities between their markets and improve their respective markets’ liquidity.
