What exactly is the underlying type and quality of physical gold assets?
It is gold bullion held in an allocated account held by the custodian, HSBC Bank (USA). The gold in question is London Good Delivery of the London Bullion Market Association (LBMA) and complies with all their criteria in terms of purity and consistency. What has been the uptake experience of the DGS ETC in its first five months of offering? It has been slow so far. We have about $5 million in investment, but we have been encouraged by the trading. We have traded over 28,000 securities about $2.5 million worth on Nasdaq Dubai. We are cautiously optimistic about the Fourth Quarter both for the investment and trading of DGS. It took a big lead-time to develop and introduce the product. Because it is a new product, the market education relating to such products will take some time. Our Shariah board, whose executive director is Sheikh Yusuf Talal De Lorenzo, has been very hands on in facilitating a top retail Islamic investment product evidenced by physical gold. At its core DGS is a simpl
