The Dubai Gold & Commodities Exchange (DGCX) has signed an agreement with the Multi Derivatives Exchange Nepal (MDX) for joint collaboration and knowledge sharing on areas of mutual benefit surrounding commodity trading.
MDX is a proposed derivatives exchange in Nepal that has applied for a regulatory licence from Securities Board of Nepal (Sebon) to operate a commodities and derivatives exchange.
As per the deal, DGCX and MDX will together host workshops and meetings to further the scale of the alliance and promote strong cooperation between the exchanges.
Under the agreement, DGCX will work closely with MDX in areas of shared interest including trading, clearing, settlement, delivery of contracts, compliance and surveillance, contract design and pricing, technology, and risk management, remarked CEO Les Male after inking the deal with Dipak Raj Pandey, the co-ordinator of MDX.
"This agreement comes in accordance with our vision to expand our knowledge base, and foster more collaboration in the industry and across borders," stated Male.
“We are always looking for innovative ways to develop and enhance our offering, and we are confident that this partnership will lead to a successful and fruitful outcome that is mutually beneficial to both parties,” he added.
Pandey said: “We both share a common goal to follow international best practices and provide innovative derivatives products to our members.”
“The signing of this MoU is a significant step towards productive collaboration, and will allow us to leverage each other’s strengths, knowledge and experiences,” he added. – TradeArabia News Service