DMCC of Dubai and Borsa Ä°stanbul have signed a Memorandum of Understanding, to further enhance bilateral trade relations between the two trade bodies, particularly with regard to the DGCX and DMCC Tradeflow platforms. The signing ceremony which took place in Dubai was attended by Gautam Sashittal, CEO, DMCC; Tuncay Dinç, CEO of Borsa Ä°stanbul; Gaurang Desai, CEO, DGCX and Sanjeev Dutta, Director, DMCC Tradeflow.

Under the MoU, the two entities will collaborate to further enhance bilateral trade efficiencies and value added membership services for its market participants including access to responsible sourcing standards; storage infrastructure and financial infrastructure.

Gautam Sashittal, CEO, DMCC, said, “The aim of the MoU we have signed is to further enhance bilateral trade between Dubai and Istanbul, two of the world’s largest bullion trading hubs, by providing efficient and enhanced member services for Borsa Ä°stanbul, DMCC Tradeflow and DGCX market participants.”

Tuncay Dinç, CEO of Borsa Ä°stanbul, said, “We are pleased to sign the MoU to increase trading activity in precious metals and enhance mutual cooperation. Borsa Ä°stanbul believes in promising prospects for trading and post trade services of precious metals, recognises the importance of a liquid precious metals market, and intends to collaborate with DMCC to develop a common strategy to increase the speed of development of trading services for precious metals.”

Pic Caption: CEOs of DMCC and Borsa Istanbul at the signing