SME Times is powered by   
Search News
Just in:   • Tier 2 and 3 Indian cities to emerge as pivotal real estate growth hubs in 2025  • India’s Jaduguda Mines discovery extends uranium resources by over 50 years: Govt  • Australia 'excited to play' at inaugural Kho Kho World Cup   • Indian startup ecosystem raises over Rs 29,200 crore in 2024, witnesses record 13 IPOs  • K’taka govt employee digitally arrested for six hours, robbed of Rs 19 lakh 
Last updated: 27 Sep, 2014  

Industry Update Regarding Financial Technologies Group

PR Newswire | 04 Sep, 2013
Industry Update Regarding Financial Technologies Group (FTIL)

DUBAI, UAE: Due to unfolding events in India with regards to the Financial Technologies Group (FTIL), DGCX would like to confirm the status of its relationship with the company and its promoters.

FTIL Group is a minority shareholder of DGCX and hold 2 of 5 nominated Board seats. DGCX can confirm that no Director of the Exchange has any operational responsibility for the running of the Company.

Further DGCX confirms that as of 12 March 2013 the exchange replaced all FTIL Group supplied Trading and Clearing technology with a new system 'EOS' supplied by Cinnober.

The Dubai Multi Commodities Centre (DMCC) a Government of Dubai entity is the lead promoter of the exchange and subsequent to a recent share issue now owns 67% of DGCX.

DGCX is regulated by the Emirates Securities and Commodities Authority (ESCA) who are fully aware of the exchange's operations.

About DGCX:  Established in 2005, DGCX is the region's first derivatives exchange and the only one allowing participants to clear and settle transactions within the Gulf region. The Exchange has played a pioneering role in developing the regional market for derivatives.  DGCX is a Dubai Multi Commodities Centre (Dubai Government) initiative in partnership with Financial Technologies (India) Limited and Multi Commodity Exchange of India Limited (MCX). It is an electronic commodity and currency derivatives exchange with 267 members from across the globe, offering futures and options contracts covering the precious metals, energy and currency sectors.  In 2012, the Exchange partnered with Cinnober, one of the world's leading trading technology providers, and developed an advanced technology platform (EOS) designed to support DGCX Members' increasingly sophisticated trading requirements. For more information: http://www.dgcx.ae

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Will the new MSME credit assessment model simplify financing?
 Yes
 No
 Can't say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter