DME Sets a New Open Interest Record of 71.5 Million Barrels of Crude Oil

Press release
Published July 31st, 2018 - 11:43 GMT
Ahmad Sharaf, Chairman of Dubai Mercantile Exchange
Ahmad Sharaf, Chairman of Dubai Mercantile Exchange

Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East, reported a new exchange-wide open interest record of 71,586 lots on 31 July 2018. This total is equivalent to almost 71.5 million barrels of crude oil.

The latest figure surpasses the previous open interest record of 69,183 lots, which was set on 31 May 2018.

This new record is a testament to the efficiency and benefit of procuring and hedging crude oil via the most active trading window in the regional commodity markets, with over 100 participants contributing to DME’s price formation on a daily basis.

Background Information

Dubai Mercantile Exchange

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 Tatweer (a subsidiary of Dubai Holding), Oman Investment Fund and CME Group. Global financial institutions and energy trading firms such as Goldman Sachs, J.P. Morgan, Morgan Stanley, Shell, Vitol and Concord Energy have taken equity stakes in the DME, providing the exchange with a resounding vote of confidence by major players in global energy markets.

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) and all trades executed on the exchange are cleared through and guaranteed by NYMEX (a member of CME Group), which is regulated by the U.S. Commodity Futures Trading Commission (CFTC)  and is a recognized body by the DFSA.

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