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.
Majority owned by core shareholders Tatweer (a member of Dubai Holding), Oman Investment Fund (OIF) and CME Group, the DME also released an equity stake of up to 20 per cent in August 2008 to a strategic investor group including leading global financial institutions and energy trading firms such as Casa Trading, Concord Energy, Goldman Sachs, J.P. Morgan, Morgan Stanley, Shell and Vitol.
The exchange has developed and trades the DME Oman Crude Oil Futures Contract, addressing the growing market need for price discovery of sour crude oil destined for East of Suez markets, while simultaneously bridging the time-zone gap between Europe and Asia.
Launched in June 2007, the contract has averaged 2,037 contracts per day during 2009, and hit a one-day high of 8,076 contracts on June 23, 2009, up on the previous high of 6,484 contracts recorded on January 13, 2009.
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 and all trades executed on the Exchange are cleared through and guaranteed by Nymex (a member of CME Group), an AA+ rated clearinghouse which is regulated by the CFTC and licensed as a Recognised Body by the DFSA.