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Israeli traders can now trade on the Dubai bourse

Web report/Dubai
Filed on May 2, 2021
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Israeli corporations, who trade on a proprietary basis, allowed to become members of the DGCX


The Dubai Gold & Commodities Exchange (DGCX) on Sunday said it has received a permit from the Israel Securities Authority (ISA), enabling qualified Israeli corporations who trade on a proprietary basis to become members of the DGCX.

This will allow Israeli traders to use DGCX trading services and platforms. Israeli members will also then have access to act as market movers on the Dubai bourse’s platform.

The move allows the DGCX Group to introduce its diversified global products and services, including futures and options contracts that cover precious metals, energy, equities, and currency sectors within Israel, as it continues to expand its role as the leading Middle East exchange for the trading of derivatives.

“The strengthening of ties and opening up of markets between the UAE and Israel represents an incredibly exciting moment in the DGCX story and the wider Gulf Cooperation Council (GCC) region, as we continue to expand internationally by providing investors and market participants with products and services that are highly innovative and that add true value," said Les Male, the Chief Executive Officer (CEO) of DGCX.

“The landmark development of the Abraham Accords provides a springboard for the Israeli community to come to Dubai and invest, opportunities for our new Israeli member base to hedge risk, and to invest in secure and safe assets during times of uncertainty. Our contracts have already opened a door for international traders by providing offshore access to specific regional markets, especially India, one of the world’s largest bullion-trading hubs. We look forward to opening doors for traders from Israel,” he said.

-waheedabbas@khaleejtimes.com





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