The Dubai Gold and Commodities Exchange (DGCX) and FXCM Group, LLC (FXCM), a leading international provider of online foreign exchange trading, CFD trading, bitcoin and related services, today announced the signing of a Memorandum of Understanding (MoU), agreeing to collaborate on launching new and innovative FX products on the DGCX.
Les Male, Chief Executive Officer of DGCX, stated, “It is our aim to ensure that we continue to offer our members and market participants truly innovative contracts, backed by our state of the art technology and Clearing House. These contracts must appeal to not only our international participants but also to local banks and trading houses too. This MOU with FXCM is the first step in developing ever more pioneering contracts contributing to the DGCX’s global offerings allowing us to cross-pollinate each other’s diverse client base.”
Siju Daniel, Chief Commercial Officer of FXCM Group noted that “This partnership will expand both companies’ footprint in this region and will allow its members to experience the many benefits of trading with DGCX. With FXCM’s long history and expertise as one of the world’s leading FX and CFD brokers, working alongside Dubai’s first commodity derivatives exchange, we know that we can create new innovative product offerings and are enthusiastic on the many possibilities. We look forward to sharing them with the market in the future.”
Les Male, CEO of DGCX, signed the agreement at the FXCM Group headquarters in London on Monday, December 17th with Mario Sanchez, Managing Director and Global Head of FXCM Pro Sales.