Dubai - Mubasher: Nasdaq, a global technology company serving the capital markets, has entered a market technology agreement with Dubai Gold & Commodities Exchange (DGCX).
Under the agreement, Nasdaq will offer DGCX with integrated marketplace solutions via the Nasdaq Financial Framework, including multi-asset trading, real-time clearing capabilities, market intelligence, and market surveillance, according to a press release on Monday.
Through Nasdaq’s real-time clearing solution, DGCX will be enabled to provide clearing capabilities to regional and international marketplaces.
Commenting on the agreement, the CEO at DGCX, Les Male, said: "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."
Meanwhile, the SVP and head of Marketplace Operators and New Markets and Market Technology at Nasdaq, Paul McKeown, noted: "By adopting Nasdaq’s suite of scalable and robust technology, DGCX can further execute on its strategy and vision to evolve its marketplace for investors in the Middle East and beyond."