It brings buyers and sellers together worldwide through its CME Globex electronic trading platform and also operates a central
counter party clearing provider through CME Clearing.
The Dubai Gold and Commodities Exchange (DGCX) and its Central
Counter Party (CCP) subsidiary, Dubai Commodities Clearing Corporation (DCCC), announced that clearing members can now deliver eligible global securities as collateral.
Karlyn has 20 years of banking experience, including previous roles at First National Bank of Omaha where she designed and implemented several risk management programs including an Internal Capital Adequacy Program inclusive of Stress Testing, Model Risk Management policy,
Counter Party Risk Management and Wholesale Funding Program.
The parties involved in the transaction were Emami Limited (Our Client) and Brillare Science Private Limited (
Counter Party).
Considering that the clearing house has recently acquired the status of a central
counter party as per best international practice, various new requirements have been made applicable to the clearing house through the regulations to strengthen its new status and to meet its enhanced requirements.
DCCC operates as a Central
Counter Party (CCP) offering fully integrated clearing & settlement services and collateralization of exchange traded derivatives.
This will facilitate movement of cash and securities from investors between two countries, with the
counter party risk handled by both exchanges, providing the investors with arbitrage opportunities.
It's an "agency agreement", whereby the
counter party or the bank itself (in case of borrowing of funds) provides an estimated profit rate of return, and the recipient can cancel the transaction in the event the prospective profit rate is not as the expected rate of return, and therefore then demanding the return of the funds with the accrued profit amount.
"This tool can be used to net payments with counter parties even though the existing individual payments are with decentralized or unrelated business units within the
counter party," says Donnelly.
A world's first, this initiative is aligned with recent global regulations on mandatory clearing for non-deliverable FX forwards and FX optionsvia a Central
Counter Party. The clearing of FX Forwards is the next OTC clearing offering following the 15 November 2010 start of clearing of Interest Rate Swaps denominated in Singapore dollars.
Mubasher DBFS, which offers a range of services for every segment of financial market, provides direct market access platform to all Gulf, Middle East and US markets through one
counter party contract in association with their parent investment bank in Bahrain.
