Leading regional exchanges to develop new financial products to further attract investors

Dubai - UAE, July 07, 2015

The Dubai Mercantile Exchange (DME) and Abu Dhabi Securities Exchange (ADX) today signed a Memorandum of Understanding (MoU) in a move that will see two of the leading regional exchanges collaborate on several fronts to further drive the growth and development of capital markets in the UAE and the wider Middle East region.

The MoU was signed by Ahmad Sharaf, Chairman of DME, and Rashed Al Balooshi, Chief Executive, Abu Dhabi Securities Exchange.

Ahmad Sharaf, Chairman of DME, said, "This MoU between DME and ADX is of immense strategic importance as it brings together two exchanges that have firmly established the UAE's position on the global financial map. DME's proven expertise in attracting members from across the globe and driving trading volumes on its platform combined with ADX's unique listing and stock trading experience will facilitate increased capital market participation and investment from local and international investors."

"DME values any opportunity to contribute to the continued growth of regional financial markets. DME and ADX will work closely to develop and introduce new financial products that will resonate with a diverse investor base", added Sharaf.

Rashed Al Balooshi, Chief Executive, Abu Dhabi Securities Exchange said, "Knowledge-based economic growth is one of the top priorities today and hence through this MoU we hope to establish a strong relationship with the DME to share knowledge and best practices for mutual benefit and development. We are confident that together we can further drive the growth and expansion of the capital markets in the UAE and set a leading example for our regional counterparts."

DME is the leading energy futures and commodities exchange in the Middle East and is witnessing consistent growth in trading volumes to reinforce the position of its flagship product - DME Oman - as the most credible trading benchmark for the Asian crude oil markets. The DME Oman contract currently is the largest physically delivered crude oil futures contract in the world.

ADX was launched in 2000 and has since evolved into a leading stock market with aspirations of leading the development of capital markets in the UAE and the wider MENA region.

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About DME:
DME is the premier international energy futures and commodities exchange in the Middle East. It aims to provide oil producers, traders and consumers engaged in the East of Suez markets with transparent pricing of crude oil.

Launched in 2007, DME has rapidly grown into a globally relevant exchange. Its flagship Oman Crude Oil Futures Contract (DME Oman) contract is now firmly established as the most credible crude oil benchmark relevant to the rapidly growing East of Suez market. Reflecting the economics of the Asian region like no other contract, and the largest physically delivered crude oil futures contract in the world, DME Oman is the world's third crude oil benchmark and the sole benchmark for Oman and Dubai exported crude oil. 

DME is a fully electronic exchange, with regulatory permissions allowing access from more than 20 jurisdictions, including the major financial centers of Asia, Europe and the United States. The Exchange is located within the Dubai International Financial Center (DIFC), a financial free zone designed to promote financial services within the UAE. The DME is regulated by the Dubai Financial Services Authority and all trades executed on the DME are cleared through and guaranteed by CME Clearing.

DME is a joint venture between Dubai Holding, Oman Investment Fund and CME Group. Global financial institutions and energy trading firms including Goldman Sachs, JPMorgan, Morgan Stanley, Shell, Vitol and Concord Energy also hold equity stakes in the DME. www.dubaimerc.com

© Press Release 2015