DME Welcomes H.E. Suhail Al Mazrouei, Energy and Industry Minister, UAE

Press release

Published September 16th, 2018 - 10:49 GMT

During the event

Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East was honored Wednesday to welcome H.E. Suhail Al Mazrouei, Energy and Industry Minister, UAE.

His Excellency was given an overview on DME's vision and objectives, and attended the pricing window which is used by Oman and Dubai governments, and recently adopted by Saudi Aramco, to calculate Official Selling Prices for customers.

H.E Suhail Al Mazrouei, Energy and Industry Minister, UAE, said:” We are proud to see such successful businesses operating from the UAE and we are sure that the experience DME have gained over the past decade is an asset for all of us. We congratulate DME on all the milestones realized since inception, and on its latest achievement with Saudi Aramco adopting DME Oman in their pricing formula.”

Raid Al-Salami from DME said: "We are delighted with His Excellency’s visit, and we believe it is a major step towards strengthening our relationship with key UAE and Middle East decision makers and thought leaders. Such a step is vital to empower UAE’s position as a global hub for crude oil and refined products pricing.”

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.