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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.”
