Cigniti Technologies to Provide Quality Testing on Marketplace Solutions for DGCX

The Dubai Gold and Commodities Exchange (DGCX) announced on Thursday that it has selected Cigniti Technologies, an independent quality engineering and software testing services provider, as its strategic Quality Assurance service provider as the Exchange seeks to upgrade its technology platform.

Cigniti will provide DGCX with quality testing on a number of marketplace solutions that will replace applications currently used by DGCX, including functions such as real-time trading and clearing, pre-trade risk management, market intelligence, surveillance and quality assurance.

Cigniti's testing services will enable DGCX to 'acceptance test' the applications, covering both functional and non-functional testing, and reduce the amount of overall time and effort expended on testing.

Srikanth Chakkilam, CEO at Cigniti Technologies, said: "We are excited to partner with DGCX, the UAE region's largest commodity derivatives exchange. This would further strengthen our position in the financial services market. The capital markets are based on real-time data and are increasingly complex. The introduction of digital technologies has brought in advanced practices and further encouraged new segment of investors and traders. Convenience, speed, reliability, security and efficiency are key to create a transparent and open environment. This requires an end-to-end testing of digital applications for the better performance and user experience."

Les Male, CEO at DGCX, said: "Innovative digital solutions form a key part of the DGCX's efforts to maintain operational excellence and continue to deliver unparalleled efficiencies. Nowhere is this more evident than in our technology agreement with Nasdaq Market Technology, which is ultimately aimed at enabling us to provide our members as well as their clients with increasingly sophisticated levels of service performance. Our most recent announcement of Cigniti as our strategic quality assurance provider reinforces these efforts."