Special Correspondent

Company holds commodities summit

KOCHI: JRG, a leading commodity brokerage company in the UAE, has launched mobile trading on commodities through the Dubai Gold and Commodity Exchange (DGCX).

The mobile trading platform was inaugurated during the JRG Commodities summit that the company organised at Movenpick International Hotel, Dubai. The summit, attended by more than 500 NRIs and UAE nationals, discussed the emerging vast investment opportunities in the commodities futures market in the UAE, a release said.

Jignesh Shah, vice-chairman of DGCX and founder of Financial Technologies, launched the UAE's first mobile trading platform in DGCX. JRG has an exclusive tie-up with Financial Technologies Middle East for providing the M-trade facility to the global investing public.

The summit held an exclusive mock trading session for the investors to experience the trading in on-line commodity futures. Investors will be trained during the summit as to how to conduct trades in gold, fuel, oil, currencies and silver. This is also first time that the UAE is conducting exclusive mock training session for commodity futures.

Addressing a press conference on the sidelines of the summit in Dubai, JRG managing director Regi Jacob said the summit brought more insight into the brighter side of the commodity futures trading through DGCX to the large number of NRI clients and other nationals in West Asia.

"Wireless Internet is the technologically most effective platform to trade on commodity futures. We are happy that JRG is the first brokerage company that has launched the first ever mobile trading platform in the UAE," Mr. Jacob said.

JRG executive director Giby Mathew said the company was the first commodity broker in the UAE to provide mobile trading facility through Wireless Internet on DGCX to the global investors.

He said the system allowed investors to get connected using their mobile handsets and see the market rates, enter/modify/cancel orders, view their positions and transactions through a secure encrypted channel. Mobile trading technology would be helpful to the business class investors as well as anyone who owned a mobile phone to enter into trading in global commodities.

During the summit, Framroze Pochara, CEO of DGCX, gave a presentation on the exchange. Amer Musa Al Jaghbeer, director and legal registrar of Dubai Multi Commodities, and Arshad Khan, director, Financial Technologies Middle East, offered felicitations.