Physical delivery for March loading reached 27.3mn bl
Average daily volume increase by 17%
Dubai - DME, the premier international energy futures and commodities exchange in the Middle East, announced today a set of records for the month of January 2016.
The Exchange registered a new record for physical delivery volumes of 27.3 million bl for March loading (previous record was 22.5mn bl in March 2015), and four successive open interest records for its Oman Crude Oil Futures contract peaking at 36,109 contracts.
The Exchange also saw traded volumes increase by 17% year-on-year amid strong interest in the DME Oman contract from commercial and financial firms around the world.
Owain Johnson, Managing Director, DME said: "We are delighted to start 2016 with these records. Today's turbulent markets confirm the need for a regulated exchange that offers risk management and hedging solutions in this part of the world. We are witnessing a developing appetite among oil sellers and buyers to trade and get oil delivered through DME, the only regulated energy exchange in one of the biggest oil producing regions."
Johnson added: "DME plays a major role today as a reliable pricing point for Middle East crude oil going east. Our growing customer base have confidence in the transparency of the benchmark and its ability to capture the real supply-demand situation in the East of Suez market."
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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
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 2016
