Dubai, 10 November 2009 

GTL Trading DMCC (GTL), one of the leading broker members of Dubai Gold & Commodities Exchange ( DGCX), today announced that they have developed a new algorithmic trading software, ‘GTXTrader’, to trade the DGCX commodity and currency futures markets. 

• New ‘GTXTrader’ software to enhance algorithmic trading strategies, connectivity and response time

• GTL’s global client and hedge fund base has improved access to DGCX products

The new GTXTrader software provides automated execution for algorithmic trading strategies covering arbitrage opportunities as well as market making commitments. The application provides a single platform for multiple algorithmic trading strategies for trading DGCX commodity and currency derivatives. 

GTXTrader deploys multi asset, algorithmic trading techniques for trading on DGCX, designed to meet the stringent trading requirements of GTL’s global hedge fund and client base. 

Eric Hasham, CEO, DGCX said “We are delighted with this development by GTL which is testimony to their ongoing commitment to and participation in DGCX commodity and currency futures contracts.”

Commenting on the technology application, Riaz Mahmoud, CEO, GTL Trading DMCC, said, “As the leading derivatives exchange in this region, DGCX provides differentiated trading opportunities and a low risk clearing framework for local and international participants to execute and clear their commodity and currency futures business. Our newly developed application will meet the requirements of traders worldwide wishing to access the growing asset class of commodity and currency derivatives, within a well regulated, zero taxation framework.”

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