Statement on Dubai Gold Securities
Dubai, 2 February, 2010
Securities Holders will be aware that on 22 December 2009, the DFM announced its planned acquisition of the NASDAQ Dubai. The Press Release announced the consolidation of key market operations functions of the DFM and NASDAQ Dubai.
The current process for creation and redemption of the Dubai Gold Securities is on a T+3 delivery versus payment basis. As a result of this acquisition and the planned consolidation of trading, clearing, settlement and custody processes between NASDAQ Dubai and the DFM, the Directors of DGS LLP are considering whether any necessary steps are required to address any proposed changes in the current operational structure of the NASDAQ Dubai. To address this issue, the Directors of DGS LLP have appointed a sub-committee which will be reviewing any changes proposed and liaising with service providers and advisers to DGS LLP in relation to any steps which need to be taken.
A further announcement on any actions required by the DGS LLP Board and DGS LLP shall be made in due course.
Dubai Gold Securities are a Shariah compliant investment initiative of World Gold Council and the Dubai Multi Commodities Centre Authority.
Dubai Gold Securities (DGS) are traded on NASDAQ Dubai under the symbol GOLD, and can be bought through most regulated broker dealers and the firms acting as market makers.
Download the Dubai Gold Securities Offering Document.
Dubai Gold Securities are intended to lower a large number of the barriers preventing investors from using gold as an asset allocation and trading tool. These barriers have included the logistics of buying, storing and insuring gold. In addition, certain pension funds and mutual funds do not or cannot hold physical commodities, such as gold, or the derivatives thereof.
