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Euroclear UK & Ireland 33 Cannon Street EC4M 5SB London http://www.euroclear.com
Contact Mr Martin Gregson +32 2 326 41 86
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Euroclear UK & Ireland

First Middle East central counterparty joins Euroclear's Collateral Highway

(PresseBox) (Brussels and Dubai, )
The Dubai Commodities Clearing Corporation (DCCC) has become the first central counterparty (CCP) in the Middle East to join Euroclear’s global Collateral Highway. The DCCC guarantees settlement for all trades executed on the Dubai Gold & Commodities Exchange (DGCX), which is supported by a system of initial and variation margins.

Scheduled for full operation in early 2014, this exclusive agreement with Euroclear will enable clients of DCCC and DGCX to use CCP-eligible securities held in Euroclear Bank - and in all other entities connected to the Collateral Highway - as collateral to fulfil initial and variation margin requirements at DCCC.

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