DME trading volumes up 38pc in June
Dubai, July 2, 2013
Dubai Mercantile Exchange (DME), a premier international energy futures and commodities exchange in the region, has registered a record trading volume of 6,978 ADV in June, up 38 per cent over the same period last year.
The June volumes soared from the previous record of 6,415 ADV in May 2012 and was 32 per cent higher when compared to last month, said a top official.
"This follows a period of sustained growth for the DME in which we enjoyed month on month increases from Aug 2012 through to April 2013," remarked Christopher Fix, the chief executive of the Dubai Mercantile Exchange.
"To have now recorded our highest ever monthly ADV is a great milestone to have reached and we are very encouraged by the positive indication this gives for our future growth," stated Fix.
"This record is the perfect way to mark the 6th anniversary of the DME," he added.
As well as ADV growth, DME has also enjoyed an increased interest in membership in the last few months, said the exchange chief.
RBS joined as a clearing member in April and earlier this month DME welcomed Mitsubishi as a trading member.
"The increase in ADV is reflective of a number of new participants trading the market and the growing recognition that the DME offers fair and transparent pricing for the East of Suez market. As more and more companies want to get involved in the Asian story they are turning to the DME as the most credible source of pricing for oil trade flows in this region," he added.-TradeArabia News Service