DGCX’s new trading platform goes live
Dubai, March 12, 2013
Dubai Gold & Commodities Exchange (DGCX), the region’s first derivatives exchange, said its new trading platform, the EOS Trader Platform, has gone live.
The activation of the EOS Trader Platform marks the completion of DGCX’s new technology infrastructure, said a statement from the Dubai exchange.
The advanced platform will provide the exchange's growing member community with superior transaction speeds, more efficient means to access liquidity, higher reliability, enhanced trading flexibility and global connectivity.
The upgrade will provide low latency network access, world-class risk-management, surveillance and clearing capabilities, said the statement.
In 2012, the exchange partnered with Cinnober, one of the world’s leading trading technology providers, to develop an advanced technology platform designed to support DGCX Members’ increasingly sophisticated trading requirements.
DGCX’s internal expertise, combined with Cinnober’s cutting-edge technology and skills, will enable the Exchange to enhance its competitiveness and support its vision to transform the region’s derivatives market.
The new technology gives the exchange the ability to offer contracts in multiple currencies including UAE dirhams – making it possible for users to provide quotes in multiple currencies.
DGCX will also be able to offer 24-hour market support on the new platform, enhancing the value it offers Members and also in attracting new business opportunities from retail, institutional and high-frequency traders (HFTs).
CEO Gary Anderson expressed delight on having completed the implementation of its new technology infrastructure.
"The feedback we have received from our members and the wider trading community has been very encouraging. The new trading technology provides cost effective services and enables members to place, cancel and modify all their orders quickly, substantially enhancing overall efficiency and reducing risks," said Anderson.
"DGCX has ambitious growth plans and we are confident that the new platform will support the expected volume growth and the launch of new and innovative products on the Exchange," he added.-TradeArabia News Service