DGCX Clearing House Recognized by European Securities and Markets Authority

SEATTLE (Scrap Monster): The Dubai Commodities Clearing Corporation (DCCC)- the clearing house of the Dubai Gold and Commodities Exchange (DGCX) has received renewed recognition as a third country Central Counter Party (CCP) by the European Securities and Markets Authority (ESMA). It must be noted that the clearing house was first recognized as a third country CCP in 2017.

The renewal of the recognition reflects the clearing house’s adherence to international regulatory standards and confirms its alignment with stringent risk management and governance frameworks. Further to the renewal, DCCC will continue to be considered as a Qualifying Central Counter Party (QCCP), in accordance with European banking regulations. Consequently, all European banks could clear trades settled through the DCCC without incurring additional capital requirements.

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Les Male, CEO, DGCX said that the recognition from ESMA affirms DCCC’s commitment to continuously enhance its regulatory oversight and align with the best international standards. Furthermore, it ensures that it continues to remain at the forefront of providing efficient and highly regulated risk management solutions to the members of the global trading community, he added.