DGCX welcomes INTL FCStone into its member community

The Dubai Gold & Commodities Exchange (DGCX) is pleased to welcome INTL FCStone Commodities DMCC as a Trade Member of the Exchange. INTL FCStone Inc., including its subsidiaries, is a leader in the development of specialized financial services in commodities, securities,  global payments, foreign exchange and other markets.

INTL FCStone’s Precious Metals offers a full range of trading and hedging capabilities from offices in London, Singapore, Shanghai, Dubai and the U.S. It serves banks and financial institutions, producers, bullion wholesalers and traders, refiners and smelters, government agencies, and jewelry manufacturers. INTL’s memberships include, but are not limited to, the London Bullion Market Association, the London Platinum and Palladium Market, Singapore Bullion Market Association and now, the Dubai Gold & Commodities Exchange.

Gaurang Desai, Chief Executive Officer of DGCX said, “We are delighted to welcome INTL FCStone to the DGCX community. As a leading bullion industry participant, we look forward to work with its globally respected team in building our recently launched Dubai Spot Gold Contract and a number of other products. Dubai Gold Spot Contract is an initiative to promote transparent Loco-Dubai price discovery and facilitate physical delivery of 1 Kg Gold bars on a safe, well regulated and reputable Exchange platform.”

Philip Smith, CEO for EMEA & Asia, INTL FCStone, said “Dubai and the surrounding MENA region represents a central part of our global precious metals business and broader business strategy. Providing our customers access to markets was the driving force behind our decision to join DGCX and we are grateful to the exchange for this opportunity.”