Dubai Gold and Commodities Exchange (DGCX) has announced that Object Trading, an independent provider of global direct market access (DMA), has joined the Exchange as an Independent Software Vendor (ISV).
Object Trading's flagship direct market access suite FrontRunner is now live with clients connected to DGCX, and is available to provide direct market data and risk-managed trade execution.
DGCX, in a press release, said it has seen overall trading volumes double in Q1 2013 compared to the same period in 2012 as traders continue to invest in commodities and currency futures. Recent record trading in Indian Rupee/US Dollar futures contracts has also driven market participant demand for connectivity to DCGX, which remains the only exchange that offers the Indian Rupee/Dollar futures contract trading outside of India.
Object Trading's flagship direct market access suite FrontRunner allows trading firms to achieve direct access to all futures and options market data and trade execution services for products traded on DGCX, in addition to over 55 other major global markets available. FrontRunner provides normalized exchange connectivity, real-time market data, and order execution with in-line pre-trade risk constraints to sell-side and buy-side firms worldwide and across multiple asset classes.
Gary Anderson, CEO of DGCX said: "We are very happy to welcome Object Trading, a leading independent provider of global direct market access, to the DGCX community. As DGCX widens its global footprint, enhanced connectivity to the Exchange will be a critical enabler for our growth. We look forward to working with Object Trading to make it easier and more cost effective for traders to connect and trade on DGCX." Steve Woodyatt, CEO of Object Trading said: "Our clients look to us to remove the limitations of their current reach by providing exchange access where and when new opportunities arise. Building direct market access to the largest commodities exchange in the Middle East was driven by brokerages needing to enable their clients to trade DGCX products. DGCX has seen tremendous growth in trading volumes in 2013, so we see this as a significant enhancement to our global offering."