DAWN OF NEW PARTNERSHIP BETWEEN TOCOM AND DGCX

2006.8.21

Tokyo, August 21: The Tokyo Commodity Exchange (TOCOM), the world’s leading bullion and energy exchange and the Dubai Gold and Commodities Exchange (DGCX), the world’s newest fully electronic commodities & currencies derivatives exchange, have today signed a Memorandum of Understanding (MoU), aimed at developing cooperation and information sharing which would be beneficial to both the parties. 

The MoU was signed at TOCOM’s office in Tokyo by Mr. Masaaki Nangaku, Chairman of TOCOM and Mr. Colin Griffith, Chairman of DGCX.

This agreement reiterates both exchanges’ commitment to a cooperative relationship. The two institutions intend to pursue business opportunities through areas of collaboration on the improvement of market liquidity, soundness and efficiency. Based on this MoU, TOCOM and DGCX will engage in documentation and information sharing, with the common goal of development of both the markets.

The linkage of the two commodity exchanges through this MoU, located in two important economies of the world, will open up a new window of business opportunities for market participants in these two markets.

Mr. Colin Griffith and Mr. Masaaki Nangaku expressed their confidence that the collaboration would lead to tremendous benefits for both exchanges. Speaking on the new partnership, Mr. Masaaki Nangaku said that the significance of the agreement could not be emphasized enough. “DGCX is a leading futures exchange in the Middle East, which has recently experienced remarkable growth. TOCOM is very pleased to have been able to sign an MoU with such a prominent exchange. We strongly believe that this new collaborative relationship will ensure further development of both the TOCOM and the DGCX markets, and will also bring positive results.”

Commenting on the occasion Mr. Griffith said that he was very pleased with the new collaboration. “It is a privilege to be associated with one of the world’s premier organizations in commodities trade. In light of the fact that DGCX is the only international commodities and currencies derivatives exchange in the time zone between Europe and the Far East, our collaboration with TOCOM is sure to yield very good results for both the partners. I am confident that DGCX will benefit immensely from the rich experience that TOCOM brings to this relationship.”

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Notes for the Editor

About TOCOM:

The Tokyo Commodity Exchange (TOCOM), a mutually-associated commodity futures exchange, consists of four markets: oil (crude oil, gasoline & kerosene), precious metals (gold, options on gold futures, silver, platinum & palladium), aluminum, and rubber. TOCOM leads the Japanese commodity futures market with a share of approximately 55% in 2005, corresponding to a volume of 62 million lots and a nominal trading value of 1.4 trillion USD. Its state-of-the-art electronic trading platform is connected to major ISVs, and the volume of foreign trades has been increasing year after year.

About DGCX:

The Dubai Gold and Commodities Exchange (DGCX) is a fully electronic commodities and currencies derivatives exchange. Strategically located in Dubai, the exchange is the first international commodities derivatives marketplace in the time zone between Europe and the Far East.
DGCX is a joint venture between the Dubai Multi Commodities Centre, Financial Technologies and Multi Commodity Exchange of India. At present DGCX offers its members and their clients to trade in Gold, Silver and Currency futures. This will be followed by options on gold and silver futures. A diversified range of commodities such as steel, marine fuel oil, freight rates and cotton will be introduced for trading as the exchange progresses further.

For further information please contact:

Dubai Gold & Commodities Exchange
Neena Birla
AGM- Marketing
Tel: +971 (4) 361 1616
Mobile: 050 3400946
E-mail: neena.birla@dgcx.ae

Promoseven Weber Shandwick PR
Farah Farooq
Group Account Director
Tel: +971 4 3210077
Mobile: 050 5379753
E-mail: farah.farooq@promoseven.com

The Tokyo Commodity Exchange
International Affairs Section
Tel: +81 3 3661 9215
Fax: +81 3 3664 0089
www.tocom.or.jp

 
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