Financial Daily from THE HINDU group of publications
Thursday, Dec 08, 2005
Financial Daily from THE HINDU group of publications Thursday, Dec 08, 2005 |
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Markets
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Financial Services Geojit offers clients trading on Dubai Gold Exchange Our Bureau
Kochi , Dec. 7 GEOJIT Commodities Ltd has begun offering its clients facilities to trade on Dubai Gold & Commodities Exchange (DGCX). With this, clients can buy and sell gold in units of one kg (0.995 fineness) deliverable at DGCX approved vaults in the United Arab Emirates (UAE). By paying 5 per cent of the total value as margin money, clients can trade in gold, a press release from Geojit has said. The exchange is currently open form 10 a.m. to 11 p.m. and will soon become operational 24 hours. Dubai Commodities Clearing Corporation (DCCC) provides settlement guarantees for all transactions. Geojit is offering trading facilities in DGCX through its joint venture Barjeel Geojit LLC. Barjeel Geojit is a trading cum clearing member of DGCX, which started operations at the same time DGCX went live. A large number of Indian and Pakistani trading members have clearing arrangements with Barjeel Geojit. According to Mr C.P. Krishnan, Chief of Geojit's commodities division, direct access to international markets will help clients to get integrated to world markets.
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