The Dubai Gold and Commodities Exchange (DGCX) said it has signed an agreement with FXCM Group to collaborate on launching new and innovative FX products on the DGCX.

FXCM Group is a leading international provider of online foreign exchange trading, CFD trading, bitcoin and related services.

DGCX’s chief executive officer Les Male and FXCM Pro Sales’ managing director and global head Mario Sanchez, yesterday (December 17) signed the agreement at the FXCM Group headquarters in London, UK.

Male said: “It is our aim to ensure that we continue to offer our members and market participants truly innovative contracts, backed by our state-of the art technology and Clearing House.”

“These contracts must appeal to not only our international participants, but also to local banks and trading houses too. This MoU with FXCM is the first step in developing ever more pioneering contracts contributing to the organisation’s global offering allowing us to cross-pollinate each other’s diverse client base,” he said.

Mario Sanchez-Wandemberg, managing director, FXCM Group, said: “This partnership will expand both companies’ footprint in this region and will allow its members to experience the many benefits of trading with DGCX.”

“With our long history and expertise as one of the world’s leading FX and CFD brokers, working alongside Dubai’s first commodity derivatives exchange, we know that we can create new innovative product offerings and are enthusiastic on the many possibilities. We look forward to sharing them with the market in the future,” he added. – TradeArabia News Service