The seminar which covered Energy Futures Trading is the first in a series of educational sessions aimed at increasing knowledge within the UAE, Gulf region, and the greater Middle East on energy risk management and trading.
The DME - AUD Academy, the first academy of its kind, was developed to become the premier commodity and risk management center in the region, providing potential market participants of the Dubai Mercantile Exchange Limited (DME) with the necessary skills and information to strengthen their ability to trade commodities as well as enhance their knowledge of managing price risk.
The seminar offered attendees from the region the ability to participate in three sample modules on physical oil trading, using futures, and technical analysis at a presentation delivered on the campus of the AUD.
Dr Lance de Masi, AUD's President announced in his introductory remarks that "The DME - AUD Academy is officially open and is well on its way of attaining its goal of educating students and professionals alike in the intricacies of transacting energy futures contracts at the Dubai Mercantile Exchange.
'AUD's partnership with the DME in the founding of the Academy is an opportunity for education to triumph. The Academy will serve as a shining example of the formidable impact that an institution such as ours can have when it teams with an entity the likes of the Dubai Mercantile Exchange."
Mr. Gary King, Chief Executive of the DME introduced the Exchange, a joint venture between the New York Mercantile Exchange (NYMEX) and Tatweer, a member of Dubai Holding, which recently announced that it will be listing an Oman Crude Oil futures contract. The Exchange regulated by the Dubai Financial Services Authority and located in the Dubai International Financial Center is expected to begin trading during the fourth quarter of 2006.
Mr. King also highlighted the importance of the DME-AUD Academy and said, "Apart from designing and organizing a comprehensive range of seminars, the Academy will allow participants to have the ability to obtain Commodity Training Diplomas, to pass Trader Certification Exams, in addition to creating the foundation for a wide audience to trade Oman Crude Oil futures contracts, and other energy commodity contracts on the DME."
The seminar was conducted by Ms. Suzanne Taylor, a qualified lecturer and a long term market practitioner of physical oil trading and risk management, and a Managing Partner of Bright Sparks - partners in training Ltd, a London based consultancy firm specialising in planning and delivering tailored training in the energy markets.
Addressing the audience, Ms. Taylor discussed the fundamentals of the petroleum markets elaborating on crude oil trading, crude oil supply, the geographical distribution of this supply, the demand for oil and its products, the refining capacity versus the refinery throughput, and finally the determinants of oil price.
Ms. Taylor also explained the fundamentals of Exchange traded futures contracts, outlining the clearing mechanism of a futures exchange and its function of providing a medium for risk management, allowing for price transparency and providing supply/pricing flexibility and for investment opportunities.
She further said, "Trading energy futures contracts on the Dubai Mercantile Exchange, with clearing through the NYMEX clearinghouse will afford market participants all the safeguards and standards they would expect when trading oil futures in New York or London."
At the conclusion of its first seminar, Mr. King stated, "We are encouraged by the overwhelming success of the DME-AUD Academy's introductory session and the cross section of market participants, individual investors and students that came out to listen to Suzanne's remarks."
The DME-AUD Academy will be announcing its upcoming schedule of classes shortly.
Browse
related articles
DME-AUD Academy launches its first seminar on Energy Futures Trading
- United Arab Emirates: Wednesday, June 21 - 2006 at 14:33
- PRESS RELEASE
Related content
The recently announced DME-AUD Academy held its first seminar yesterday at the American University of Dubai (AUD) with more than 400 energy, finance and business professionals in attendance.
(From L to R): Dr. Lance De Masi, AUD President, Suzanne Taylor, Managing Partner of Bright Sparks - Partners in Training Ltd, and Gary King, Chief Executive Officer of Dubai Mercantile Exchange Ltd at the first DME-AUD Academy seminar at AUD.
Article Options
Log in to request more information from Dubai Mercantile Exchange (DME)
Posted by Janeta Novakovic, Assistant News EditorWednesday, June 21 - 2006 at 14:33 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
Notes and Media Contacts »
About the DME-AUD Academy:
The DME Academy is a joint venture between the Dubai Mercantile Exchange and the American University of Dubai, where it will be physically located. The DME Academy will hold its first public seminar on the 21st of June
About the Dubai Mercantile Exchange:
The Dubai Mercantile Exchange Limited (DME), a joint venture between the New York Mercantile Exchange, Inc. (NYMEX) and Tatweer, aims to become the premier commodity and energy futures exchange in the Middle East, providing a financially secure, well-regulated and transparent trading environment.
Expected to launch in the fourth quarter of 2006, the Exchange will initially develop and trade a Middle East Sour Crude Oil Futures Contract. This will address a growing market need for price discovery of Middle East Sour Crude Oil while simultaneously bridging the time zone gap between Europe and Asia by providing for the trading of energy futures, options and other products.
The DME will be a fully electronic exchange. However, in a unique concept, it will also bring together a community of traders that will operate from trading hubs and individual trading stations on the Exchange's floor, which will be located within the Dubai International Financial Centre (DIFC), the region's leading financial services centre.
The DME will be regulated by the Dubai Financial Services Authority (DFSA), a world class, independent regulator and all trades executed on the Exchange will be cleared through, and guaranteed by, NYMEX's AA+ rated clearinghouse.
About American University in Dubai:
The American University in Dubai is a private, non-sectarian institution of higher learning founded in 1995.
It is a branch campus of The American InterContinental University (previously The American College), one of the oldest American international universities and leader a leader in collaborative and technology driven education. Enrollment in 2005-2006 averaged 2,400 students. In Spring, 2006, eighty nationalities were represented in the AUD student body.
AUD offers both undergraduate and graduate degrees. A four-year Bachelor's (BBA) degree is offered in Business Administration (with optional concentrations in Accounting, e-Business, Finance / Banking, Management, Marketing and Marketing Communications). BFA (Bachelor's of Fine Arts) degrees are offered in Visual Communication (with optional concentrations in Advertising [Creative], Graphic Design, Illustration and Photography) and Interior Design. The University also offers the Bachelor's of Information Technology (BIT) degree.
The AUD School of Engineering, established in 2001 through collaboration with the Georgia Institute of Technology, offers the Bachelor's of Science (BS) degree in Civil, Computer and Electrical Engineering.
The Master of Business Administration (MBA) is offered as a generalist degree, with the option to specialize in either Marketing or Finance. It consists of a twelve-course curriculum delivered in the evening.
In addition to courses in their chosen major / concentration, undergraduate students in all disciplines must follow a curriculum in Liberal Arts. This is in fulfillment of the general education portion of their degree requirements.
Through its Center for English Proficiency, the University also conducts Intensive and Academic English programs designed to develop university-level English language skills in students requiring additional language study before commencing university.
The University's faculty possess outstanding academic credentials. Furthermore, many are or have been practicing professionals of note. In terms of faculty composition, North Americans have the highest representation of any national group.
AUD's multi-complex facility has been conceived with the objective of supporting the University's programs (both academic and extra-curricular) to an American standard. The campus surroundings include Dubai Internet City and Media City. This reflects HH General Sheikh Mohammed Bin Rashid Al Maktoum's vision for Dubai as the technological hub of the Middle East, together with the University's role as a technological reference point.
Lina Anani/Sami Al Shorafa
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide
in Middle East and North Africa
P O Box 28063
Dubai, UAE
Tel : (971 4) 3344550
Fax : (971 4) 3344556
www.asdaa.com
The DME Academy is a joint venture between the Dubai Mercantile Exchange and the American University of Dubai, where it will be physically located. The DME Academy will hold its first public seminar on the 21st of June
About the Dubai Mercantile Exchange:
The Dubai Mercantile Exchange Limited (DME), a joint venture between the New York Mercantile Exchange, Inc. (NYMEX) and Tatweer, aims to become the premier commodity and energy futures exchange in the Middle East, providing a financially secure, well-regulated and transparent trading environment.
Expected to launch in the fourth quarter of 2006, the Exchange will initially develop and trade a Middle East Sour Crude Oil Futures Contract. This will address a growing market need for price discovery of Middle East Sour Crude Oil while simultaneously bridging the time zone gap between Europe and Asia by providing for the trading of energy futures, options and other products.
The DME will be a fully electronic exchange. However, in a unique concept, it will also bring together a community of traders that will operate from trading hubs and individual trading stations on the Exchange's floor, which will be located within the Dubai International Financial Centre (DIFC), the region's leading financial services centre.
The DME will be regulated by the Dubai Financial Services Authority (DFSA), a world class, independent regulator and all trades executed on the Exchange will be cleared through, and guaranteed by, NYMEX's AA+ rated clearinghouse.
About American University in Dubai:
The American University in Dubai is a private, non-sectarian institution of higher learning founded in 1995.
It is a branch campus of The American InterContinental University (previously The American College), one of the oldest American international universities and leader a leader in collaborative and technology driven education. Enrollment in 2005-2006 averaged 2,400 students. In Spring, 2006, eighty nationalities were represented in the AUD student body.
AUD offers both undergraduate and graduate degrees. A four-year Bachelor's (BBA) degree is offered in Business Administration (with optional concentrations in Accounting, e-Business, Finance / Banking, Management, Marketing and Marketing Communications). BFA (Bachelor's of Fine Arts) degrees are offered in Visual Communication (with optional concentrations in Advertising [Creative], Graphic Design, Illustration and Photography) and Interior Design. The University also offers the Bachelor's of Information Technology (BIT) degree.
The AUD School of Engineering, established in 2001 through collaboration with the Georgia Institute of Technology, offers the Bachelor's of Science (BS) degree in Civil, Computer and Electrical Engineering.
The Master of Business Administration (MBA) is offered as a generalist degree, with the option to specialize in either Marketing or Finance. It consists of a twelve-course curriculum delivered in the evening.
In addition to courses in their chosen major / concentration, undergraduate students in all disciplines must follow a curriculum in Liberal Arts. This is in fulfillment of the general education portion of their degree requirements.
Through its Center for English Proficiency, the University also conducts Intensive and Academic English programs designed to develop university-level English language skills in students requiring additional language study before commencing university.
The University's faculty possess outstanding academic credentials. Furthermore, many are or have been practicing professionals of note. In terms of faculty composition, North Americans have the highest representation of any national group.
AUD's multi-complex facility has been conceived with the objective of supporting the University's programs (both academic and extra-curricular) to an American standard. The campus surroundings include Dubai Internet City and Media City. This reflects HH General Sheikh Mohammed Bin Rashid Al Maktoum's vision for Dubai as the technological hub of the Middle East, together with the University's role as a technological reference point.
Lina Anani/Sami Al Shorafa
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide
in Middle East and North Africa
P O Box 28063
Dubai, UAE
Tel : (971 4) 3344550
Fax : (971 4) 3344556
www.asdaa.com
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
