TCS partners with Dubai Gold & Commodities Exchange for next-gen derivatives market infrastructure
The transformation programme will strengthen DGCX’s ability to respond to the evolving needs of regional and international market participants across established and emerging asset classes
Tata Consultancy Services (TCS) has formed a partnership with the Dubai Gold & Commodities Exchange (DGCX) to upgrade and modernize its market infrastructure through a next-generation trading, clearing, and surveillance solution. This transformation program aims to enhance DGCX's capacity to cater to the changing demands of regional and international market participants across various asset classes.
TCS's solutions will support DGCX's existing derivatives products, including energy commodities, currencies, equities, bullion, and precious metals, while also providing a foundation for future product development and expansion into new asset classes like cryptocurrencies and tokenized assets. By strengthening DGCX's market infrastructure, the partnership will enable the exchange to introduce new products more efficiently and fortify the system supporting its current markets.
Ahmed Bin Sulayem, Chairman and CEO of DGCX, stated that the collaboration with TCS will establish the technological foundation for the exchange's next stage of growth. R. Vivekanand, President of BFSI Products and Platforms at TCS, added that the partnership will help build a modern, scalable platform that will accelerate DGCX's growth and facilitate entry into next-generation asset classes.
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