DMCC Tradeflow registers over 100 pledges since launch

The Dubai Multi Commodities Centre DMCC announced that DMCC Tradeflow, its central, web-based registry of ownership for commodities, has registered and facilitated more than 100 pledges within the first month of operation. These transactions cover a wide range of commodities including gold, oil and steel that are stored in rated warehouses around the UAE and have generated trade financing from numerous national and international financiers.

Paul Boots, Director Tradeflow, said: “To have registered and facilitated over 100 pledges in such a short timeframe is a testament to the confidence users have of our state-of-the-art platform. Our team continues to work with financiers and commodity traders to deliver transparent and secure methods to increase the level of trade finance in the UAE. We are pleased that our members are benefiting directly and now look to bring the advantages of the platform to an even wider group of commodity owners and their counterparts.”