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Dubai Mercantile Exchange welcomes Deutsche Bank Securities, Inc. as latest Clearing Member
- United Arab Emirates: Tuesday, February 17 - 2009 at 13:39
- PRESS RELEASE
The Dubai Mercantile Exchange Limited (DME) announced today that its Membership Committee has approved Deutsche Bank Securities Inc. as a Clearing Member.
Deutsche Bank Securities Inc. becomes the 22nd Clearing Member of the Exchange.
Making the announcement, Ahmad Sharaf, Chairman of the DME, said:
"We are delighted to welcome Deutsche Bank Securities Inc. to the Exchange. Deutsche Bank Securities Inc. brings a wealth of experience and commitment to the DME. Following our recent announcement of record trading volumes, this latest development shows that even during these challenging economic times the global trading community continues to have confidence in the DME and our benchmark DME Oman Crude Oil Futures Contract."
Ahmad Sharaf, Chairman of the Dubai Mercantile Exchange (DME).
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Posted by Rima Ali Al Mashni
Tuesday, February 17 - 2009 at 13:39 UAE local time (GMT+4)
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without the prior written consent of AME Info FZ LLC / Emap Limited.
About the 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. Majority owned by core shareholders the CME Group, Tatweer (a member of Dubai Holding), and the Oman Investment Fund (OIF), the DME also released an equity stake of up to 20% in August 2008 to a strategic investor group including leading global financial institutions and energy trading firms such as Goldman Sachs, Morgan Stanley, J.P. Morgan, Vitol, a Shell Group Company, Concord and Casa Energy.
The Exchange has developed and trades the DME Oman Crude Oil Futures Contract, addressing the growing market need for price discovery of sour crude oil destined for East of Suez markets, while simultaneously bridging the time-zone gap between Europe and Asia. Launched in June 2007, the contract hit record volumes of 6,484 contracts on January 13th 2009.
The DME is a fully electronic exchange, and its contracts are listed on CME Globex, 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 authorised and regulated by the Dubai Financial Services Authority (DFSA), a world class, independent regulator, and all trades executed on the DME are cleared through, and guaranteed by, NYMEX's AA+ rated clearinghouse which is licensed as a Recognised Body by the DFSA.
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 80,456 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
Deutsche Bank Securities Inc., member NYSE, FINRA and SIPC, is the investment banking and securities arm of Deutsche Bank AG in the United States.
For further information, please contact:
DME:
Aimee Peters
Tel: +971 50 453 2767
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