Dubai's DGCX, DCCC Tap Cinnober for Settlement Service
New settlement service will enhance trading and cost efficiencies for clearing members.
The DCCC has leveraged Cinnober’s RealTime Clearing solution to enhance its multi-currency clearing and settlement as well as collateral management capabilities, while the core trading and clearing applications of DGCX technology infrastructure are built on Cinnober’s TRADExpress Trading System and TRADExpress RealTime Clearing.
“These new facilities will generate significant additional trading and settlement efficiencies for our members,” says Gaurang Desai, Interim CEO of DGCX. “They have been designed to provide greater capital efficiency and boost liquidity in the DGCX marketplace.”
The DCCC acts as the clearinghouse for DGCX and is therefore the central counterparty for each trade carried out on the exchange.
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