DMCC Ups Commodities Exchange Stake to 51 Percent
April 05, 07
The Dubai Multi Commodities Centre (DMCC) announced Tuesday its purchase of an additional one percent stake in the Dubai Gold and Commodities Exchange (DGCX) from FT Group.
DMCC paid $12.5 million for the acquisition and now holds 51 percent of the DGCX.
DGCX is an electronic futures and options exchange which utilizes trading, clearing and settlement technology developed by FT Group.
DGCX lists futures contracts in gold, silver, currencies, and fuel oil.