The Hindu Business Line : Commodities summit to attract NRIs

Luring the vast number of NRIs and high networth individuals in the Gulf into the booming commodity futures markets, JRG is organising the Commodities Summit Dubai - 2006 on November 18.

Addressing a press conference in Kochi, Mr Regi Jacob, Managing Director of JRG, said the main objective of the summit was to give further insight and broader perspective into commodity futures trading through Dubai Gold and Commodities Exchange (DGCX) to the large number of NRI clients and other nationals in West Asia.

M-Trading

During the Summit, Mr Jignesh Shah, Vice-Chairman of DGCX and the founder of Financial Technologies, is expected to launch UAE's first Mobile Trading platform in DGCX.

JRG' Executive Director, Mr Giby Mathew, said the company would be the first commodity broker in the UAE to provide the mobile trading facility through Wireless Internet on DGCX to the global investors.

JRG has tied up with Financial Technologies West Asia for providing the mobile trade facility to the global investing public. Financial Technologies is the largest commodity and capital market trading software provider in India and West Asia and has developed the "I-Win" wireless technology in association with Nokia mobile for Mobile Trade, a press release issued here has said.

JRG has successfully implemented the mobile trading platform across India. While more than 1,000 clients are currently trading on JRG's Mobile Trading platform, the company's Internet trading division I-Trade also uses the user-friendly technology platform.

Mr Mathew explained that the system allows investors to get connected using their mobile handsets and see the market rates, enter/modify/cancel orders, view their positions and transactions through a secure encrypted channel. "Mobile Trading technology will be very helpful to the business class investors as well anyone who owns a mobile phone to enter into trading in global commodities," he said.

JRG promoters also announced that the company has completed all the formalities for setting up adequate infrastructure facilities with trained staff members for the commencement of mobile trading from November 18 onwards across UAE. "JRG is always in the forefront of implementing new ideas and technological innovations to help our customers globally," Mr Mathew said.

During the Summit, Mr Framroz Pochara, CEO of DGCX will provide a presentation on DGCX. Mr Amer Musa Al Jaghbeer, Director and Legal Registrar of Dubai Multi Commodities and Mr Arshad Khan, Director, Financial Technologies West Asia will also speak at the function. More than 500 delegates that include NRIs, HNIs and foreign investors are expected to participate in the Summit.

More Stories on : Events | Commodity Exchanges | NRIs

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