Zee Gold DMCC Joins Middle East Derivatives Exchange

(IDEX Online News) – Zee Gold DMCC has joined the Dubai Gold and Commodities Exchange (DGCE), a leading Middle East derivatives exchange, according to a report in The Economic Times.

Zee Gold DMCC is a subsidiary of India’s Shirpur gold refinery, the largest in the country, and is likely to play a role in developing Dubai Spot Gold Contract. It was launched in December to provide a platform for the Emirate to become more of an international trading center, rather than a regional one.

"This alliance with DGCX will help create a paradigm shift for the UAE bullion industry and the gold souk participants by providing them access to Loco Dubai [where gold bullion is physically held in London] gold prices on a federally regulated trading platform," said Jeff Rhodes, CEO, Zee Gold DMCC.