DUBAI, UAE, Sept. 4, 2013 /CNW/ - Due to unfolding events in India with
regards to the Financial Technologies Group (FTIL), DGCX would like to confirm
the status of its relationship with the company and its promoters.
FTIL Group is a minority shareholder of DGCX and hold 2 of 5 nominated Board
seats. DGCX can confirm that no Director of the Exchange has any operational
responsibility for the running of the Company.
Further DGCX confirms that as of 12 March 2013 the exchange replaced all FTIL
Group supplied Trading and Clearing technology with a new system 'EOS'
supplied by Cinnober.
The Dubai Multi Commodities Centre (DMCC) a Government of Dubai entity is the
lead promoter of the exchange and subsequent to a recent share issue now owns
67% of DGCX.
DGCX is regulated by the Emirates Securities and Commodities Authority (ESCA)
who are fully aware of the exchange's operations.
About DGCX:Established in 2005, DGCX is the region's first derivatives
exchange and the only one allowing participantstoclear and settle
transactions within the Gulf region. The Exchange has played a pioneering role
in developing the regional market for derivatives. DGCX is aDubaiMulti
Commodities Centre (DubaiGovernment) initiative in partnership with
Financial Technologies (India) Limited and Multi Commodity Exchange of India
Limited (MCX). It is an electronic commodity and currency derivatives exchange
with 267 members from across the globe, offering futures and options contracts
covering the precious metals, energy and currency sectors. In 2012, the
Exchange partnered with Cinnober, one of the world's leading trading
technology providers, and developed an advanced technology platform (EOS)
designedtosupport DGCX Members'increasingly sophisticated trading
requirements. For more information:http://www.dgcx.ae
Madyan Jabr, Manager - Communication & Marketing, DGCX, Tel:
+971(0)4-361-1614; Email:email@example.com, Or, Baiju Francis / Dhanya
Isaac, Weber Shandwick PR, Tel: +971(0)4-445-4222;
To view this news release in HTML formatting, please use the following URL:
-0- Sep/04/2013 13:41 GMT
Press spacebar to pause and continue. Press esc to stop.