Singapore’s UOB Bullion and Futures joins DGCX
Dubai, March 6, 2014
The Dubai Gold and Commodities Exchange (DGCX) has approved the UOB Bullion and Futures (UOBBF), a wholly-owned subsidiary of Singapore’s United Overseas Bank (UOB), as a clearing member of the exchange.
UOBBF is a fully-licensed futures broker, providing trading access for a comprehensive suite of products including foreign exchange, bullion, over-the-counter derivatives, futures and options, commodities and securities, on major exchanges in the world, said a statement.
Its diverse client base comprises retail customers, high net worth individuals, corporate and institutional clients, hedge funds and high-frequency traders, it said.
Gary Anderson, CEO of DGCX, said: “We are excited to introduce UOBBF to the DGCX community. UOBBF is a leading financial institution known for its expertise and innovation in products and services across various sectors. Given its strong credentials in the Asia-Pacific region, it is definitely a valuable addition to our member base.”
Matthew Png, chief executive officer of UOBBF, said: “Becoming a member of DGCX will enable us to provide our clients with access to a wider range of products which are more commonly traded in the Mena region. We look forward to working closely with DGCX and to supporting its vision of enhancing commodity trade flows in the Middle East.” - TradeArabia News Service