The Dubai Mercantile Exchange Limited (DME) announced on Wednesday that a total 6,484 contracts traded on the Exchange on January 13. This marks a new DME record for volume of contracts traded on the Exchange on a given day, up 35% on the previous high of 4,819 reached on November 18 2008.
Making the announcement, Ahmad Sharaf, Chairman of the DME said: "This achievement underlines the global recognition of the DME Oman Crude Oil Futures Contract as the third global benchmark for crude oil. The continued growth of this DME contract highlights the market’s desire for transparency and fair value in the pricing of crude oil for the East of Suez markets.”
Thomas Leaver, CEO of the DME, added: “These record volumes also reflect the confidence in the DME from international industry participants and global trading community. In these times of extreme credit risk, market participants look for the security afforded by NYMEX central counterparty clearing of DME contracts. Our migration to the CME Group Globex trading platform, due this quarter, will enable an even wider audience to participate in trading the DME Oman Crude Oil Futures Contract.”
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, trusts and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
Network Tweets Archive
| Resources | Partners
| Site Map | Links
| Newsletter
Archive | Contact
| RSS Feeds
About | Syndication |
Advertising & Marketing |
Recruitment |
Terms & Conditions |
Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
All content provided by BSI Media
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment