Dubai Gold and Commodities Exchange DGCX

About DGCX, Dubai, UAE

The DGCX’s range of futures contracts offers participants of the physical commodities markets, such as producers, manufacturers and end users, with a sophisticated means of hedging their price risk exposure. Such price risk management has previously been unavailable to producers in the Middle East. In addition, DGCX offers trading opportunities to financial communities and investment houses in both the Middle East and around the globe who wish to access the growing asset classes of commodity and currency derivatives.

DGCX, is the project of the Dubai Multi Commodities Centre (DMCC), Financial Technologies (India) Limited and the Multi Commodity Exchange of India Limited (MCX). Commenced trading in 2005 as the region’s first commodity derivatives exchange and has become the leading derivatives exchange in the Middle East.

The DGCX’s range of futures contracts offers participants of the physical commodities markets, such as producers, manufacturers and end users, with a sophisticated means of hedging their price risk exposure. Such price risk management has previously been unavailable to producers in the Middle East. In addition, DGCX offers trading opportunities to financial communities and investment houses in both the Middle East and around the globe who wish to access the growing asset classes of commodity and currency derivatives.

To perform as a broker of commodities / trade member in the UAE the company (a legal entity incorporated according to the UAE law or foreign company incorporated outside the UAE) needs to carry out the necessary procedures to obtain a membership from DGCX (Dubai Gold and Commodities Exchange).

The DGCX Membership structure is organized into different categories depending on the requirements of the participant.

Broker Membership

Broker Members are entitled to trade on all the products listed by DGCX either on proprietary basis or on behalf of clients. Broker Members must meet minimum Net Current Tangible Asset requirements specified by DGCX, and comply with a comprehensive set of regulatory requirements. Broker Members proposing to deal on behalf of clients, will be subject to statutory regulations. Broker Members will require a license from the Securities and Commodities Authority UAE (SCA). Applicants for DGCX Broker Membership incorporated outside the UAE will be required to provide details of the regulatory arrangements to which they are subject to in their home jurisdiction. The Admission Fee for Broker Membership is US$ 75,000.

Before an applicant is approved as a Broker Member, A to Z Business Consultancy will submit to Authority necessary due diligence documents, contact us for more details

Trade Membership

Trade Members are entitled to trade on a proprietary basis only on all products listed on DGCX. Trade Members must meet minimum net current tangible asset (NCTA) requirements. The admission fee for Trade Membership is US$ 30,000.

Before an applicant is approved as a Broker Member, A to Z Business Consultancy will submit to Authority necessary due diligence documents; for example:

• The applicant’s financial resources
• The applicant’s expertise and experience in commodities, derivatives markets and etc.
• The applicant’s likely contribution to the liquidity and development of DGCX markets.

How to Apply through A to Z Business Consultancy

The first stage of applying for DGCX membership is completing the application form, which can be obtained from the consultant. All applications should be accompanied by a non-refundable Application fee*. Monies received into DGCX accounts in respect of Membership must represent the full fees as notified. Please note that all associated remittance costs, whether incurred through outward transfer charges and/or incoming (beneficiary’s bank) remittance charges*; are to be paid by the Applicant.

The membership fee will be refunded in full if the application is not approved. Refund requests for membership fees will be considered at the Exchange’s discretion whilst the application is in progress. Please note that fees become non-refundable once a membership application has been approved.