ABU DHABI, UAE

The Dubai Gold and Commodities Exchange (DGCX) said on Sunday that Israeli companies were allowed to join the stock market and use its trading services and platforms.

In a statement, DGCX said it had received approval from the Israel Securities Authority to allow Israeli companies to become members of DGCX.

According to the statement, the move allows DGCX to offer its global products and services, which include futures and options covering the precious metals, energy, equities and currencies sectors, in the Israeli markets.

In September 2020, the United Arab Emirates (UAE) and Israel signed a US-sponsored agreement to normalize their relations. Since then, the two countries have signed dozens of bilateral agreements in various fields, including investment, banking services and tourism.

DGCX Executive Director Les Male said the move provided “a springboard for the Israeli community to come to Dubai and invest, opportunities for our new Israeli member base to hedge risks and invest in assets. safe and secure in times of uncertainty “.

DGCX is a Dubai-based electronic stock exchange founded in 2005 to trade currencies and trade derivatives, including precious metals and energy.

* Ahmed Asmar in Ankara contributed to this report

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