Register | Forgot password?
Switch to Arabic
Thursday, December 3 - 2009

Dubai Mercantile Exchange welcomes Jump Trading as latest Clearing Member

  • United Arab Emirates: Monday, February 23 - 2009 at 14:06
  • PRESS RELEASE

The Dubai Mercantile Exchange Limited (DME) announced today that its Membership Committee has approved Jump Trading LLC. as a Clearing Member.

Article continues below
  • Ahmad Sharaf, Chairman of the Dubai Mercantile Exchange (DME).
    Ahmad Sharaf, Chairman of the Dubai Mercantile Exchange (DME).
Jump Trading becomes the 24th Clearing Member of the Exchange.

Ahmad Sharaf, Chairman of the DME, commented:

"Welcoming Jump Trading to the DME as a Clearing Member signifies the growing awareness of the DME amongst the leaders in the algorithmic trading community."


"In creating the DME Oman Crude Oil Futures Contract, the DME built, launched, and continues to trade the first successful exchange traded futures contract for the East of Suez region, the only production and refining region dominated by the value of "sour" crude. This opens up opportunities for traders to arbitrage the sweet/sour differential between WTI/Oman and/or Brent/Oman on the CME Globex platform.

"The commitment of a company such as Jump Trading, which is at the forefront of high-frequency electronic trading, to join as a member of the DME marks a milestone in the maturity of the contract, as it continues to build in liquidity."
Also consider reading:
Log in to request more information from Dubai Mercantile Exchange (DME)

Notes and media contacts

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

Disclaimer:

Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com

Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.

For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions