NEWEDGE OFFERS IMPROVED ACCESS TO DUBAI COMMODITIES MARKET

Posted August 25, 2009

DUBAI – Traders may now access the Dubai Gold and Commodities Exchange (DGCX) using a Dubai point-of-presence (POP) connection provided by Newedge, a global multi-asset brokerage services firm that is a joint venture of Société Générale and Calyon.

The new connection offers a fixed, high-bandwidth, more secure communication line than an Internet-based connection.

“Speed and connectivity are paramount to ensuring the seamless execution of derivatives transactions,” says Malcolm Wall Morris, Chief Executive Officer, DGCX. “DGCX already has the unique advantage of being located in a strategic time zone and location between the markets of the West and the Far East. Newedge provides the latest innovative technology for its client base and we are delighted that customers across the globe can now access our contracts via Newedge’s advanced, low latency connectivity.”

Newedge offers services including execution, clearing, inter-dealer brokerage and prime brokerage for financial institutions, investors, asset managers, hedge funds and corporates. Its new fixed-line capability significantly improves the reliability and timeframe for processing quotes, trades and market data.

“Our investment in establishing direct connectivity to DGCX was based on the increased interest among our clients in capitalizing on the commodity and currency trading opportunities offered by the Exchange,” says Amaury de Villemandy, CEO Newedge Europe & Middle East.