Fimat International Banque SA, a wholly-owned subsidiary of Societe Generale and part of their Securities Services, is entering into the brokerage market through its new membership on the Dubai Gold & Commodities Exchange (DGCX).
The DGCX is the first international commodities derivatives market in the Middle East region and, therefore, the first in the time zone between the markets of Europe and the Far East.
Fimat Group says it will now be able to provide clients with access to the Middle Eastern commodities markets, with a focus on the core countries of UAE, Qatar,Oman, Kuwait, Bahrainand Saudi Arabia.
“Dubai has historically been considered the centre for commodities trading not only in the Gulf but also in the Asian subcontinent and Africa,” says Patrice Blanc, the Chairman & CEO of Fimat Group. “We are therefore delighted to add DGCX to our list of exchange memberships to further expand Fimat’s international presence. By opening up the Middle Eastern markets to our clients we are yet again underlining our commitment to providing a truly global service.”