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Dubai Mercantile Exchange announces one billion barrels traded since launch
Sunday, November 29, 2009 6:51 AM


(Source: Middle East Company News)trackingThe Dubai Mercantile Exchange Limited (DME) announced today that cumulative trading in its benchmark DME Oman Crude Oil Futures Contract (DME Oman) has exceeded one million contracts, representing one billion barrels of crude oil traded, since its launch on June 1st, 2007.

About the Dubai Mercantile Exchange:The Dubai Mercantile Exchange Limited (DME) is the premier international energy futures and commodities exchange in the Middle East, providing a financially secure, well-regulated and transparent trading environment. Majority owned by core shareholders Tatweer (a member of Dubai Holding), Oman Investment Fund (OIF) and CME Group, the DME also released an equity stake of up to 20% in August 2008 to a strategic investor group including leading global financial institutions and energy trading firms such as Casa Trading, Concord Energy, Goldman Sachs, J.P. Morgan, Morgan Stanley, Shell and Vitol. The Exchange has developed and trades the DME Oman Crude Oil Futures Contract, addressing the growing market need for price discovery of sour crude oil destined for East of Suez markets, while simultaneously bridging the time- zone gap between Europe and Asia. Launched in June 2007, the contract has averaged 2,037 contracts per day during 2009, and hit a one day high of 8,076 contracts on June 23rd 2009, up on the previous high of 6,484 contracts recorded on January 13th 2009.The DME is a fully electronic exchange, and its contracts are listed on the CME Globex platform, the world's leading electronic trading platform, providing access to the broadest array of futures and options products available on any exchange. The DME is regulated by the Dubai Financial Services Authority and all trades executed on the Exchange are cleared through and guaranteed by NYMEX (A member of CME Group), an AA+ rated clearinghouse which is regulated by the CFTC and licensed as a Recognised Body by the DFSA.Contact:DMEMitali AtalT: +971 4 3655534 orJohn HobdayManaging Director, Gulf RegionDubaiPO Box 71523, 17th Floor, Al Attar Business Tower, Sheikh Zayed RoadDubai, UAE, T: +971 (0) 4 332 8832F: +971 (0) 4 332 8388

(c) 2009 Middle East Company News. Provided by ProQuest LLC. All rights Reserved.

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