The Dubai Gold & Commodities Exchange (DGCX) has signed an MoU with the Multi Derivatives Exchange Nepal (MDX), a proposed derivatives exchange in Nepal. At a ceremony attended by senior representatives from both sides, Les Male, CEO of DGCX and Dipak Raj Pandey, Coordinator of MDX, signed the agreement at the DGCX office in Dubai.
Under the MoU, DGCX will work closely with MDX in areas of shared interest including trading, clearing, settlement, delivery of contracts, compliance and surveillance, contract design and pricing, technology, and risk management
Commenting on the MoU, Les Male, CEO of DGCX said: “This agreement comes in accordance with our vision to expand our knowledge base, and foster more collaboration in the industry and across borders. At DGCX, we are always looking for innovative ways to develop and enhance our offering, and we are confident that this partnership will lead to a successful and fruitful outcome that is mutually beneficial to both parties.”
Dipak Raj Pandey, Coordinator of MDX, said: “DGCX and MDX share a common goal to follow international best practices and provide innovative derivatives products to our members. The signing of this MoU is a significant step towards productive collaboration, and will allow us to leverage each other’s strengths, knowledge, and experiences.”
MDX has applied for a regulatory license from SEBON to operate a commodities and derivatives exchange. DGCX and MDX will host workshops and meetings to further the scale of the alliance and promote strong cooperation between the exchanges.