Dubai
12 October 2016
Reporter: Mark Dugdale
Dubai derivatives market signs up ABN AMRO
The Dubai Gold and Commodities Exchange (DGCX) has signed up ABN AMRO Clearing Bank as a special clearing member on the Dubai Commodities Clearing Corporation (DCCC).

DCCC is a wholly owned subsidiary of DGCX and acts as the central counterparty for all trades executed on the exchange.

As a special clearing member, ABN AMRO Clearing’s presence will expand and deepen access to DGCX, the Middle East’s largest derivatives market. International trading firms and clients can now use the bank’s global post-trade services to access the exchange.

Gaurang Desai, CEO of DGCX Group, said: “We are excited to welcome ABN AMRO Clearing as a new clearing member, as this will further augment our client base and widen participation to DGCX’s diverse product range. ABN AMRO Clearing is a global leader in clearing services and its addition to the DGCX community further demonstrates our ability to offer a platform for international banks to expand and build their global footprint in this region.”

“We are pleased to be live on the DGCX offering clearing services and see it as an important link in our global offering,” added Martin Frewer of ABN AMRO Clearing. “Our broad client base of liquidity providers will now be able to take advantage of our correlated risk tools for optimising collateral in a new jurisdiction and be able to bring the DGCX’s suite of products into their global portfolios.”

More clearing and settlement news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Brexit could see London lose euro clearing
04 May 2017 | London | Reporter: Mark Dugdale
EU leaders have a “strong argument” for bringing euro clearing into one of the remaining member states once the UK leaves the union, according to Roger Storm of SIX Securities Services
Saudi stock exchange makes move to T+2
24 April 2017 | Riyadh | Reporter: Stephanie Palmer
Tadawul, the Saudi Arabian stock exchange, has officially moved to a T+2 settlement cycle for listed securities, from its previous T+0 system
Clearstream tackles German debt with link to LCH’s RepoClear
13 April 2017 | Luxembourg | Reporter: Mark Dugdale
Clearstream has begun offering a new settlement solution for German debt for customers that clear German bonds and repos through LCH
Euroclear Bankchain goes for gold with second successful pilot
11 April 2017 | London | Reporter: Stephanie Palmer
Euroclear and Paxos have completed a second pilot of their Euroclear Bankchain settlement service for the London bullion market, executing over 100,000 settlements
BM&FBovespa and Cetip form new exchange
07 April 2017 | São Paulo | Reporter: Drew Nicol
Brazilian exchange BM&FBovespa has merged with Cetip, Latin America's largest depository for OTC securities and derivatives
Euronext and ICE Clear partner up
05 April 2017 | Amsterdam | Reporter: Drew Nicol
Clearing operations will be run from Amsterdam, while a new asset financing solution will be built by Euronext and operated from Paris
SEC to move US to T+2
23 March 2017 | Washington DC | Reporter: Drew Nicol
Members of the SEC’s industry steering committee, including DTCC and SIFMA, were quick to praise the commission on the amendment
More clearing and settlement news