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PHYSICAL DELIVERIES

Dubai Commodities Receipts

The development of sound commodity financing tools is a central part of the process of physical delivery. This is why GTL Trading, as a member of DMCC, offers an innovative and exciting product – the Dubai Commodity Receipt (DCR) - to facilitate the growth of commodity trade finance and risk management.

DCRs are negotiable warehouse receipts that improve the financing of commodity trade while combating fraud. The DCR system is a mechanism for the creation of warehouse receipts for goods stored in Dubai, but it is also a facility within which these receipts can be transferred among members of the system and used to obtain finance from other members. These transactions are made on an electronic, web-based platform which ensures efficiency, speed and security.

In order to transact business on the DCR system, a trader, warehouse operator, collateral manager, inspection company or bank must first have been approved by DMCC as a DCR Member. DMCC-approved issuers issue DCRs online and, once issued, a DCR can be viewed online by the trader, transferred to another trader or pledged to a bank as security for a loan.

Dubai Gold Receipts

DGR is an electronic vault receipt system that provides members with real-time access to various forms of gold, either as bars, scrap, coins or jewellery stored in a DMCC-approved vault. An approved vault operator or collateral manager issues a DGR upon the deposit of gold by a trader. DGRs are negotiable instruments and can be endorsed by way of transfer to another trader or pledged and endorsed by way of security to a participating bank in order to obtain financing. A participating bank may request the gold, which is the subject of the DGR, to be tested and verified by an approved testing facility.

DGR offers financiers the opportunity to transform credit risk into market risk, generate new profit streams, access new sources of finance and attract additional trade participation.