DMCC Delivers Golden Initiatives

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DMCC Delivers Golden Initiatives
Colin GriffithExecutive Director Gold,
DMCCChairman, DGCX
April 24th, 2006
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Dubai Multi Commodities Centre (DMCC)
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• Dubai has an impressive history in the
  international gold market but the future is ever
  more exciting
• Colin Griffith
• 3rd City of Gold Conference, February 2005

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Dubai Gold Receipt (DGR)

• February 2005

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Dubai Gold Receipt (DGR)

• April 2006
• Adopted by DGCX as delivery mechanism.
• Delivery successfully completed for first two
  gold futures contracts on DGCX.
• Silver introduced.
• 64 members

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DGR Members
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Gold Sukuk dmcc

• February 2005

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Gold Sukuk dmcc

• April 2006
• Sharia compliant financing arrangements concluded
• Road Shows in London, Switzerland, Kuala
  Lumpur, Singapore, and major GCC destinations
• Closed in May 2005 well over-subscribed
• Listed on the DFM Luxembourg Stock Exchanges
• DMCC issue were rated A stable by Standard
  Poors
• Pricing of 6-month LIBOR 0.60

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Gold Sukuk

• Geographic Distribution

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Dubai Good Delivery

• February 2005

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Dubai Good Delivery

• April 2006
• Gold, 14 approved global refiners
• Silver introduced in January 2006 so far 10
  approved refiners
• Used as delivery standard for DGCX gold silver
  contracts 2 deliveries already completed

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DGD Approved Gold Refiners

• AGR Matthey, Australia
• Argor Heraeus, Switzerland
• Emirates Gold, Dubai- UAE
• Heraeus Limited, Hong Kong
• Johnson Matthey, Hong Kong
• Johnson Matthey Inc., USA
• Matsuda Sangyo, Japan
• Metalor Technologies, Switzerland
• Musuku, South Africa
• PAMP, Switzerland
• PT Antam Tbk, Indonesia
• Rand Refinery, South Africa
• Tanaka Kikinzoku, Japan
• Valcambi, Switzerland

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DGD Approved Silver Refiners

• KCM SA, Bulgaria
• Johnson Matthey Inc., USA
• Johnson Matthey Ltd, Canada
• Matsuda Sangyo, Japan
• Metalor Technologies, Switzerland
• Mat-Mex Penoles, Mexico
• PAMP, Switzerland
• Rand Refinery, South Africa
• Sumitomo Metal Mining, Japan
• Tanaka Kikinzoku, Japan

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Dubai Gold Commodities Exchange DGCX

• February 2005

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DGCX - Milestones
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Dubai Gold Commodities Exchange

• The launch, November 2005

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DGCX Prominent Overseas Members

• Deutsche Bank
• Bank of Nova Scotia (Mocatta)
• Standard Bank Plc
• Mitsui Precious Metals
• Man Group
• Goldas
• Just approved HSBC

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DGCX - Volumes
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DGCX - Future Plans

• Global Expansion of membership base
• Further industry training
• Joining hands with other major exchanges
• Extension of DGCX products
• Currencies futures Due May/June
• Steel futures Due September
• Marine Fuel Oil Due September
• Gold options Due October/November
• Cotton Work in progress
• Freight Rates Work in progress
• Pulses Work in progress
• Others as per market demand

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Dubai Multi Commodities Centre (DMCC)
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• Dubai has an impressive history in the
  international gold market but the future is ever
  more exciting 3rd City of Gold Conference,
  February 2005

In the Dubai gold market the future is today.
Make the most of this golden opportunity
4th City of Gold Conference, April 2006
Colin Griffith