NASDAQ Dubai said Monday that it intends to migrate the trading of Dubai Gold Securities (DGS) to the DFM X-Stream Trading Platform.
“Clearing, Settlement and Custody of Dubai Gold Securities is not a part of this migration. Gold trades will continue to be cleared and settled on NASDAQ Dubai through the TCS Bancs system,” the exchange said in a statement posted on its website yesterday
NASDAQ Dubai statement said it has received no-objection from its regulator for the migration and intends to go-Live with the changeover to DFM’s trading platform around mid-September 2011. The bourse urged its members to prepare for this migration.
DGS offer investors a cost efficient and secure way to access the gold market. Listed on Nasdaq Dubai on 2 March 2009, DGS are the first physically-backed gold product to be listed on the exchange and in the Middle East.