December 19, 2014 9:39 AM ET

Diversified Financial Services

Company Overview of Dubai Gold and Commodities Exchange

Company Overview

Dubai Gold and Commodities Exchange operates as an electronic commodities and derivatives exchange in the Middle East. Its futures products include gold, silver, currency, fuel oil, Indian rupee, steel, plastics, WTI light sweet crude oil, and Brent crude oil. The company also provides options and contract specifications. In addition, it engages in providing clearing and settlement, and risk management functions. Dubai Gold and Commodities Exchange was founded in 2005 and is based in Dubai, United Arab Emirates.

Emaar Business Park

Building No. 2, Level 1

Sheikh Zayed Road (Near Interchange 5)

Dubai,  

United Arab Emirates

Founded in 2005

Phone:

971 4 361 1616

Fax:

971 4 361 1617

Key Executives for Dubai Gold and Commodities Exchange

Interim Chief Executive Officer and Chief Operating Officer
Chief Financial Officer
Head of Marketing
Head of Soft Commodities
Chief Technology officer
Compensation as of Fiscal Year 2014.

Dubai Gold and Commodities Exchange Key Developments

Dubai Gold & Commodities Exchange Announces Executive Changes

The Dubai Gold & Commodities Exchange announced Gary Anderson stepped down from his role of CEO due to ill health. The bourse named Gaurang Desai as interim CEO. Desai has been COO of DGCX since its inception in 2005.

Dubai Gold and Commodities Exchange Office Moves to DMCC Free Zone

Dubai Gold and Commodities Exchange announced that it has moved to a new permanent office in the DMCC Free Zone, the gateway for commodity trade and enterprise in Dubai. Companies operating within the DMCC Free Zone, based at Jumeirah Lakes Towers, are offered access to streamlined processes, customer support, and freehold commercial and residential property. DGCX’s new offices are located at the Gold Tower. All other contact details remain the same.

DGCX to Launch Spot Gold and Agricultural Contracts

DGCX is set to launch a spot gold contract in 2014 that will make Dubai a major price discovery centre for the precious metal. The company said it is working on the spot gold contract's specifications and timing the launch. The company expects to launch it next 2 to 3 months. The reason for the spot gold is to create a contract that is very much regionally and Dubai relevant asset class. Now up to 40% of the gold traded in the world comes through Dubai. The exchange expects to attract multiple users of gold ecosystem to participate in this contract such as mining companies, refiners, fabricators, traders and international banks. Primarily it will be a spot gold price discovery platform and will be fully deliverable. So the price that is seen on DGCX's screen will be the price for spot gold in Dubai for delivery.

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To contact Dubai Gold and Commodities Exchange, please visit www.dgcx.ae. Company data is provided by Capital IQ. Please use this form to report any data issues.

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