Dubai: Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East, today announced the approval of Macquarie Futures USA LLC as a Clearing Member, to clear and settle trades carried out by its regional and international customers on DME.

Macquarie Group’s Futures Division is a specialist institutional futures broker with operations in Australia, Asia, the United Kingdom, the United States, and Canada, providing clients with market coverage in listed and OTC derivatives. It currently provides clearing services to a diverse range of clients including institutions and corporations, asset managers, producers, CTAs and investment banks around the world, and holds in excess of $US3 billion in futures client funds

“DME Oman is witnessing record participation from traders this year due to its transparency and genuine representation of the oil market in the Middle East and Asia,” said Raid Al-Salami, Managing Director, DME. “We are very pleased to have Macquarie Futures USA join us as a Clearing Member. This will help support still greater liquidity for our customers and allow DME to continue its expansion and growth momentum.”

The move highlights the growing interest in DME Oman among a large and diversified pool of traders from around the globe. In 2019 more than 120 customers have traded the contract, which has contributed to a remarkable 45% growth in forward trading.

Andrew Stewart, Global Head of Futures at Macquarie Group, said: “Becoming a clearing member on such a key energy futures and commodities exchange is part of our ongoing commitment to the commodities sector. This approval as a clearing member will enable us to provide a wider range of clearing services to clients wanting to trade these products on this growing exchange.”

-ENDS-

About Dubai Mercantile Exchange (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 2019

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