DGCX Selects Cinnober for Clearing, Surveillance and Trading

Cinnober is to provide the Dubai Gold and Commodities Exchange (DGCX) with infrastructure technology, scheduled to be implemented by December 2012.

The technology will cover the trade cycle across the exchange, and is aimed partly at attracting new business from retail, institutional and high-frequency traders (HFTs). While the trading and clearing elements will be built on Cinnober's TRADExpress software, the surveillance aspect will be handled by Scila Surveillance.

"The advanced new platform will support the requirements of new DGCX products, such as the recently announced Copper Futures, the increasing global participation of HFTs whilst also attracting both regional and global overseas liquidity pools to compete on a global stage," says Gary Anderson, CEO at DGCX. "The upgrade will also facilitate world-class risk-management, surveillance and clearing capabilities and provide the necessary implied spreads facility, together with the processing capacity needed to manage the growing volumes expected from HFTs."