12 October 2015
Dubai - The Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East, has selected London-based Elysian Systems Ltd as the technology provider for its new commodity auction business.

DME will employ Elysian's market-leading auction software capacity to host spot auctions for physical energy products and other commodities in the Middle East and elsewhere.

More than 200 banks, brokers and exchanges worldwide currently use Elysian technology to participate in global electronic markets and to receive real-time market data.  Elysian provides the auction technology that underpins the London Bullion Market Association's spot silver auction - a key global benchmark.

"DME is excited about this new auction capacity, which will enable the Exchange to offer a very attractive solution to customers in the Gulf that are looking to buy or sell spot commodities in a transparent and fair manner," said Owain Johnson, Managing Director of DME. "By partnering with Elysian, DME can bring proven best-in-class auction technology to this region for the first time."

"We are delighted to partner with DME to support their new spot auction business line," said David Hoff, CTO of Elysian Systems. "This is an exciting initiative for Elysian and DME and we look forward to signing up our first customers."

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About DME
The Dubai Mercantile Exchange Limited (DME) is the premier energy-focused commodities exchange in the East of Suez and home to the world's third crude benchmark.

The DME was launched in June 2007 with the goal of bringing fair and transparent price discovery and efficient risk management to the East of Suez. The DME lists the Oman Crude Oil Futures Contract (DME Oman) as its flagship contract, providing the most fair and transparent crude oil benchmark for the region. The DME Oman is the explicit and sole benchmark for Oman and Dubai crude oil Official Selling Prices (OSPs) - historically established markers for Middle Eastern crude oil exports to Asia.

About Elysian Systems Limited
Elysian Systems Limited engages in developing, producing, and implementing electronic trading and market data software for the financial services industry. Its products include Liquid Trading Platform, an electronic trading system that facilitates the online trading of commodities, energies, credit default swaps, fixed incomes, interest rate swaps, equities, and foreign exchanges. The company also provides Liquid Whiteboard, which facilitates the creation of electronic market places allowing organizations to place orders in a range of asset classes; compliments and expands existing voice markets; and creates an internal price whiteboard. In addition, Elysian offers market operation and server hosting, server architecture design, custom branding and logo design, user training, static data loading and management, and business analysis and process modeling services. The company serves interdealer brokers, traders, exchanges, and financial institutions and banks. Elysian Systems Limited was incorporated in 2004 and is based in London, the United Kingdom. As of December 2010, Elysian Systems Limited operates as a subsidiary of CME Group Inc.

For more information, please contact:
DME
Mayssam Hamadeh
Head of Marketing
+971 506523754 (mobile)
mayssam.hamadeh@dubaimerc.com
TRACCS (PR agency)
Walid Majzoub
+9714 3672530
walid.majzoub@traccs.net
TRACCS 24/7 Media Hotline: +97150 9448389

© Press Release 2015