DGCX Earns Positive Assessment from EU Securities Markets Regulator

SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) announced that it has received positive assessment from the EU securities markets regulator. The European Securities and Markets Authority (ESMA) confirmed that the exchange has met the post-trade transparency requirements under MiFID II and MiFIR. The exchange has now been listed as a third-country trading venue (TCTV).

The exchange qualified for the positive assessment after meeting all the criteria set out in the ESMA Opinion. The market regulator has acknowledged DGCX’s post-trade transparency aspect which enables it to publish the transactions as soon as possible after execution. Accordingly, the instruments traded on the exchange are no more considered as Over-The-Counter (OTC) transactions. Also, the firms that execute trades on the exchange could save costs, by not having to publish details of each transaction.

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Commenting on the achievement, Les Male, CEO, DGCX noted that the exchange is extremely delighted to have met the high standards set by the MiFID II and MiFIR regulations. He termed it as a significant milestone, not only for the exchange but also for the country. The move is expected to boost the accessibility of the exchange among European investors and its collaboration with institutions across the European region.