Dubai, 12 November 2012 - Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East, has demonstrated a strong commitment to its growth in Asia by opening its first office in the region, located strategically in Singapore.

The Singapore office enhances the DME's ability to offer region-wide support and services to its rapidly growing base of members across Asia.

DME's Chief Executive Officer Christopher Fix, said: "Singapore is the largest oil trading hub in Asia and the third largest in the world, making it an important strategic location for the DME. It's also home to more than 800 professional oil traders, trading volumes of US$375 billion in oil contracts annually."

The Oman Crude Oil Futures Contract (DME Oman), the Exchange's flagship contract, is now the most credible oil benchmark relevant to the Asian market.

"Asia is key to the DME's growth. The DME is situated on top of the world's largest oil reserves and faces the region with the world's fastest growing consumer demand for oil. The launch of our new office in Singapore is a reflection of how important this region is to the DME," said Mr Fix.

The announcement also comes as India based Reliance Industries Limited (RIL), India's largest private sector enterprise, recently became the DME's newest Asia member, emphasising the trend of continued growth in Asian oil production.

"We are targeting more trading activity from companies in China and India.  Forty percent of the DME's crude goes to China - they're the largest single national destination and in that there's definitely great room for expansion," said Mr Fix.

About DME
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. The DME is majority owned by core shareholders CME

Group, the Oman Investment Fund (OIF) and Dubai Holding. Global financial institutions and energy trading firms including Goldman Sachs, JP Morgan, Morgan Stanley, Shell, Vitol and Concord Energy also have equity stakes in the DME.

The exchange has developed and lists the DME Oman Crude Oil Futures Contract, which provides a unique benchmark for sour crude oil destined for East of Suez markets, while simultaneously bridging the time-zone gap between Europe and Asia. 

Launched in June 2007, DME Oman is the largest physically delivered crude oil futures contract in the world.

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 (DFSA).

For the latest trading volumes on the DME, please visit: www.dubaimerc.com 

Historical DME trading data can be found at: www.dubaimerc.com/historical.aspx

To register for daily updates, please visit: www.dubaimerc.com/daily_updates_reg.asp

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

TRACCS (PR agency)
Walid Majzoub
+9714 3672530
TRACCS 24/7 Media Hotline: +97150 9448389
walid.majzoub@traccs.net

© Press Release 2012