Nymex faces competition in Dubai exchange

Nov 10, 2004 | 07:02 AM | Kevin Foster

In what could be a threat to plans by the New York Mercantile Exchange to begin trading in Dubai, two Indian companies and the Dubai government have announced plans to set up a new gold and commodities exchange in the Middle Eastern country next year.

The Dubai Metal and Commodities Center (DMCC), a government body, the Multi Commodity Exchange of India Ltd. (MCX) and Financial Technologies (India) Ltd. (FTIL) said Tuesday they planned to launch the Dubai Gold and Commodity Exchange (DGCX) in the second half of next year.....

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