New York Mercantile Exchange (Nymex) said last week it would go "full steam ahead" with plans for an open outcry commodity exchange in Dublin, despite the entry of a potential rival in the form of an all-electronic Dubai-based commodity exchange announced last week.
Multi Commodity Exchange of India (MCX), Dubai Metals and Commodities Centre (DMCC), and Financial Technologies, (India) Ltd. (FTIL) announced plans to launch Dubai Gold and Commodity Exchange (DGCX) in the second half of 2005, subject to regulatory approval.
Gold will be the first contract listed but...