ABN Amro Clearing Bank Joins DGCX as Clearing Member

ABN Amro
Clearing Bank has joined the Dubai Commodities Clearing Corporation, a wholly
owned subsidiary of the Dubai Gold and Commodities Exchange (DGCX), as a
special clearing member. This means ABN Amro clients will now be able to use
the bank’s global post-trade services to access DGCX.

“We
are excited to welcome ABN Amro Clearing as a new clearing member, as this will
further augment our client base and widen participation to DGCX’s diverse
product range. ABN Amro Clearing is a global leader in clearing services and
its addition to the DGCX community further demonstrates our ability to offer a
platform for international banks to expand and build their global footprint in
this region,” says Gaurang Desai, CEO of DGCX Group.

“As the
largest derivatives exchange in MENA with full fledged CCP operations, DGCX
Group is well poised to offer global clients, secured settlements and capital
efficiency, thereby helping them safeguard against potential counter-party
risks.”

Martin
Frewer, global director, PTG, at ABN Amro Clearing, adds: “We are pleased
to be live on the DGCX offering clearing services and see it as an important
link in our global offering. Our broad client base of liquidity providers will
now be able to take advantage of our correlated risk tools for optimising
collateral in a new jurisdiction and be able to bring the DGCX’s suite of
products into their global portfolios.”

Colin Lambert

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