Menacorp joins DGCX as Broker Member
Dubai Gold and Commodities Exchange (DGCX) announced that Menacorp Financial Services has been approved as a broker member of the exchange.
© Press Release 2015
The Dubai Gold and Commodities Exchange (DGCX) announced today that Menacorp Financial Services LLC, the UAE’s leading financial services firm, has been approved as a Broker Member of the Exchange.The largest local broker member to date, Menacorp is a premier financial services group covering the whole Middle East and North Africa region. It is backed with strong partners and a world class team of experienced professionals, offering the finest services in investment banking, securities brokerage, asset management and financial research.
Menacorp has accumulated an accolade of impressive achievements in the last couple of years. Most recently, it was named top brokerage firm at the Dubai Financial Market (DFM) by market share among 50 competitors for 2013, 2014 and maintained its leadership year to date for 2015.
The company has also received the Best Investment & Development – Best Securities Dealing Award, from World Finance Magazine, in recognition of its achievements in ensuring reliable and effective financial transactions.
Gaurang Desai, Interim Chief Executive Officer of DGCX said, “It is with great pleasure that we announce our newest addition, Menacorp, to the DGCX member fraternity. As a prestigious financial services conglomerate in the region, Menacorp serves as a manifestation of our ability to continue growing as ‘The Exchange of choice’ in the region. We believe this addition will contribute to DGCX‘s efforts in creating a stronger regional reach in the derivatives sector and educate investor community.””We are very happy to be part of the DGCX community as their newest broker members. This creates a whole new trading platform for us, as we are more exposed to the industry and its main players. We look forward to this fruitful partnership with DGCX, and hope to reap the plentiful benefits soon,” said Ayman Al Satari, Assistant Managing Director, Menacorp.
Menacorp Financial Services LLC is an award-winning financial services firm authorized and regulated by the UAE’s Securities and Commodities Authority and the Dubai Financial Services Authority and is a subsidiary of the Bin Hamoodah Group, fully owned by the Bin Hamoodah family. Founded in 1967, the Bin Hamoodah Group is present in various industries in the UAE, ranging from oil & gas (GASOS) and industrial services (GISCO) to real estate (Bin Hamoodah Properties) and food products (National Food Products Company). Its extensive expertise covers financial advisory, brokerage, asset management and financial research provided across the Middle East and North Africa (MENA) region.
Established in 2005, DGCX is the region’s first derivatives exchange and the only one allowing participants to clear and settle transactions within the Gulf region. The Exchange has played a pioneering role in developing the regional market for derivatives. DGCX is majority owned by Dubai Multi Commodities Centre (DMCC), a strategic initiative of the Government of Dubai, with a mandate to enhance commodity trade flows through the Emirate by providing the appropriate physical, market, financial infrastructure and services required.. It is an electronic commodity and currency derivatives exchange with 267 members from across the globe, offering futures and options contracts covering the precious metals, energy and currency sectors. For more information: www.dgcx.ae