Dubai, February 6, 2013 - DME announced today that it has now reached the 4 billion barrel mark, with a total of 4 million contracts (eqv. 4 billion barrels) traded on the Exchange. This milestone comes just 10 months after the DME passed the 3 billion mark and continues the trend of strong trading growth on the Exchange.

The 4 millionth trade on the Exchange took place at 12:28 pm Dubai Time yesterday between Japanese trading house Mitsubishi Corp, and the Anglo-Swiss multinational commodities trader, Glencore, highlighting DME Oman's position as the most credible benchmark for oil trading for the Asian markets. DME Oman remains the largest physically delivered crude oil futures contract in the world, with the Exchange trading the equivalent of more than 1 billion barrels of oil for the first time in one year during 2012.

Christopher Fix, Chief Executive of the Dubai Mercantile Exchange, said:

"After delivering strong trading growth in 2012, DME has sprinted out of the blocks at the start of 2013, with record window volumes helping us pass the 4 billion barrels traded mark.  The fact that our 4 millionth trade was carried out between one of  Asia's largest trading houses and one of the world's largest commodities traders, underlines how we are attracting increasing amounts of quality liquidity to DME".

"With the increasing influence of countries such as China and India on global crude oil markets, DME is perfectly positioned to bridge these two sub-continents and provide the only appropriate benchmark for, and gateway into, the rapidly expanding East of Suez crude oil corridor."

A Spokesperson at Mitsubishi Corp said:

"Mitsubishi Corp is happy to have contributed to DME's success in trading their 4 millionth contract.  Mitsubishi Corp believes there is a need for a transparent and liquid benchmark futures contract for Middle East crude oil to ensure a fair price for all market participants.  To this end, we are a steady participant in the DME Oman market and a supporter of the continued success of the DME."

Steven McBain, Crude Oil Trading Manager at Glencore Singapore PTE. LTD said:

It is fantastic to be a part of the ongoing success of the Dubai Mercantile Exchange as it reaches the milestones of 4 million trades and 4 billion barrels. Glencore plans to continue to grow its business on the DME and support the exchange in its drive to align itself with global commodities markets.  The establishment of the DME has been one of the most positive developments in Asian crude trading in recent years and we look forward to participating in its future success."

DME trading milestones:

December 2009: 1bn barrels

March 2011: 2bn barrels

March 2012: 3bn barrels

January 2013: 4bn barrels

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, accessible from 26 jurisdictions, including London, Singapore and the US. 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

About Mitsubishi Corp
Mitsubishi Corp (MC) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.

About Glencore
Glencore is a leading integrated commodities producer and marketer. Glencore produces, sources, processes, refines, transports, stores, finances and supplies commodities needed by industries

around the world. Glencore combines the strength of its unique marketing capability with the insight and supply of its own diversified portfolio of production and logistics assets.

Media Contacts
DME
Heather Astbury, Director Corporate Communications
+971 506523754 (mobile)
heather.astbury@dubaimerc.com

TRACCS (PR agency)
Walid Majzoub
+9714 3672530
walid.majzoub@traccs.net
TRACCS 24/7 Media Hotline: +97150 944838

© Press Release 2013