iFX EXPO Dubai in two weeks: Israelis allowed to trade on DGCX exchange amid Peace Treaty

Rick Steves

This milestone for the trading industry in the region stems from the historic joint peace treaty between the UAE and Israel signed in 2020. The normalization of relations is expected to provide incommensurable trade and business opportunities for investors and businesses in the UAE and Israel.

Nasdaq Dubai leads the world in sharia compliant securities

Israeli traders are now allowed to become members of the Dubai Gold & Commodities Exchange (DGCX) and trade the operator’s list of Futures and Options Contracts.

The permit from the Israel Securities Authority (ISA) marks another milestone for the DGCX as the venue continues to expand its role in the Middle East as brand for derivatives trading.

Only qualified Israeli corporations who trade on a proprietary basis are able to apply for membership at the venue and to use its trading services and platforms, as well as to act as market makers on the DGCX platform. The permit holder’s operations are not subject to the supervision of the Israel Securities Authority.

The permit issued by Israel’s financial watchdog does not constitute an opinion regarding the quality of the services rendered by the permit holder or the risks that such services entail.

Les Male, Chief Executive Officer of DGCX, said: “The strengthening of ties and opening up of markets between the UAE and Israel represents an incredibly exciting moment in the DGCX story and the wider GCC region, as we continue to expand internationally by providing investors and market participants with products and services that are highly innovative and that add true value. We are delighted to be able to welcome Israeli investors and market participants to a global community of over 100 members from around the world.”

“The landmark development of the Abraham Accords provides a springboard for the Israeli community to come to Dubai and invest, opportunities for our new Israeli member base to hedge risk, and to invest in secure and safe assets during times of uncertainty. Our contracts have already opened a door for international traders by providing offshore access to specific regional markets, especially India, one of the world’s largest bullion-trading hubs. We look forward to opening doors for traders from Israel.”

DGCX’s list of Futures and Options Contracts available for trading cover precious metals, energy, equities, and currency sectors. The exchange has reported a trading volume of 12.73 million contracts in 2020, with a yearly Average Open Interest (AOI) of 220,504 contracts in 2020.

Dubai will be under the spotlight as the trading industry is all set for the iFX EXPO, which will take place at the exclusive 5-star Grand Hyatt Hotel, Dubai from 19-20 May 2021.

With flights and hotels to book, booths to design, and pre-event networking to complete, we’re counting down to the iFX EXPO Dubai. If you haven’t yet registered for the iFX EXPO in Dubai, you should do so immediately here.

With added covid-19 measures in place, we must limit the number of attendees to allow for safe spacing and movement. The iFX EXPO in Dubai will follow all the health and safety guidelines set out by the local authorities allowing you to network with confidence. You can read more about the expo, promotion codes for flights and hotels. and networking, here.

Sarah Henry, from organizers Ultimate Fintech, explained how it all will go down in what will be the first live event in over a  year.

 

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