All member companies, including those awaiting membership approvals, will be brought together to form a physical commodities cluster within the JLT free zone community to act as a central market place for trading in the Middle East.
The move coincides with the recent trend of tighter markets in commodities.
“This is just another example of proper market prices influencing the placement of exchanges and trading worldwide’, said GHF Groups Central Asian commodities head.
“Tight markets, slow future investment and a rebound in the economy because of all the government money being disgorged will lead to a major win for investors getting in early and maximizing leverage.”
Commenting, Sudhakar Tomar, Managing Director, Gazprom-Kazakstan, a member company, said: “We consider this a wise move. Everything we see leads us to a tight market by year end.”
Mr. Putin seems to agree and has spent billions directly to sustain Gazprom through the temporary liquidity crisis in the United States expecting oil and gas to pay the bills in Moscow.
(DMCC members have access to the Almas Gold and Diamond vaults, market infrastructure and trading platforms like the Dubai Gold and Commodities Exchange, Dubai Diamond Exchange, Dubai Pearl Exchange, Dubai tea Trading Centre and Dubai Cotton Centre, and a range of commodities backed financial investment tools including Shariah compliant hedge funds and Dubai Gold Securities.)
The move is also in response to the impressive rise in the number of registrations following the progress in the free zone’s development.
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