DME sets new trading records in Jan
Dubai, February 3, 2014
Dubai Mercantile Exchange (DME) has announced record average daily trading volumes of 8,162 lots in January 2014, equivalent to almost 8.162 million barrels of crude oil per day.
January’s total average daily trading volumes (ADVs) are 52 per cent higher than last year and 27 per cent over last month, said the premier international energy futures and commodities exchange.
DME’s previous record performance was 7,450 ADV, which was set in November 2013. Trading volumes have grown steadily since the DME was launched, and the yearly ADV jumped from 4,667 in 2012 to 6,355 last year.
During January, the DME also welcomed Marubeni Corporation of Japan as its latest trading member, emphasizing its key role as the exchange that bridges the ‘energy corridor’ between the Middle East and Asia.
DME chairman Ahmad Sharaf said: "We have made an excellent start to 2014 by surpassing the records that were set late last year. The exchange continues to attract new members and customers and this is creating a virtuous cycle of increased participation and growing volumes."
"DME aims to provide oil producers, traders and consumers engaged in the East of Suez markets with transparent pricing of crude oil," he added.-TradeArabia News Service