News Column

DME volumes continue to soar in H1 2014

July 11, 2014

The Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East, continued its growth curve in the first six months of 2014 with its flagship DME Oman Crude Oil Futures Contract (DME Oman) posting an average daily volume trading growth of over 52 per cent with 9,143 lots per day, compared to 5,993 lots in the corresponding period last year.

Furthermore, in the process the DME Oman also broke the barrier of one million contracts traded in the first half of a year, for the first time since its launch, with over 1.13 million contracts (equivalent to 1.13 billion barrels of crude oil) traded on the exchange.

Christopher Fix, chief executive officer of the DME, said: "With this continued and sustained growth over the last 12-18 months, the DME Oman contract has further consolidated its status as the Middle East's largest physically delivered crude oil futures contract."

The growing interest and participation from members and customers resulting in increased trading activity, DME's presence in Asia, which has enhanced relationships with Asian customers, increased efficiency of the platform, and the recently launched Trade at Marker (TAM) mechanism for traders are some of the key contributing factors to the DME's growing reputation as a key energy benchmark," he said.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Khaleej Times (United Arab Emirates)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters