FACE VALUE | Gaurang Desai
INVESTOR education and awareness has been one of the key priority areas for
DGCX
price performance of the underlying equity on global markets. b) SSF provides flexibility with chosen trading strategies and assists in portfolio management. Since SSF essentially mirrors the underlying stock prices, traders can use SSF for replicating their usual stock trading strategies with additional benefit of standardized futures instruments. c) In the first phase, DGCX has
selected five global stocks traded on US exchanges and ten stocks traded on Indian exchanges. Participants will be required to pay initial margins upfront when trading in SSFs. Investors can now use one exchange to participate in US and India exposure instead of remitting funds abroad. d) Channelizing investments in
one exchange also allows them to save on remittance costs, reduces hassles of managing cross-border funds movement and optimizes the efficiency of funds available – all of these translate into better returns on capital deployed than trading in different markets globally.
10
We see numerous companies in this region offering spot and forward trading in currencies and commodities. What challenges DGCX faces from such platforms? How you plan to increase DGCX penetration within local traders who are very much attuned to such OTC platforms? Investor education and awareness has
been one of the key priority areas for DGCX. We work very closely with our broker members, industry associations and regulatory agencies to organize seminars, workshops and events for traders and investor community throughout the year. It is however very important for an average investor to understand two things: a) the risks of trading on unregulated platforms with excessive leverage offered; and b) critically evaluate promises of abnormal returns on investment, and compare them with advantages of trading on regulated, transparent exchange like DGCX through its extensive broker member network.
Tadawul is considering going for an IPO. Any such plans by DGCX? We continue to watch developments in our industry and will share more details once we come up with any such plans.
It has been a remarkable journey in the last 10 years. Where do you see DGCX in its next 10th anniversary? It has been an incredibly exciting 10 years for DGCX. We have come a long way from launching just one gold product to becoming an exchange listing more than 30 products spanning across 5 asset classes. In the last 10 years, we didn’t just
create a truly global exchange but have also built a world-class clearing corporation in the form of Dubai Commodities Clearing Corporation to offer unmatched range of products and services to meet the needs of the market. We hope to remain an “Exchange of Choice in GCC” and to further strengthen the value proposition of Dubai as an incredible investment destination for companies within the commodities and financial services industries.
564 kg
The traded volume of Dubai Spot Gold
Contract registered by DGCX in a month since the contract’s launch
Gaurang Desai A Profile
Gaurang Desai has been a founding team member of DGCX since its inception in 2005. A derivatives market specialist with close to two decades of experience in handling variety of senior roles. Prior to this engagement,
Gaurang was involved in market structure development initiatives in areas such as Commodities, Equities, Securities depository and B2B online marketplaces with the National Stock Exchange of India, National Commodity & Derivatives Exchange and Reliance Group. Gaurang brings unparalleled
experience in the areas of market design, risk management, clearing & settlement and operational competence for a demutualized electronic exchange.
www.wealth-monitor.com | February 2016
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