DME Wins 'Exchange Of The Year'
DUBAI, September 30, 2013 /PRNewswire/ --
DME (Dubai Mercantile Exchange) was named Energy Risk's 'Exchange of the Year' at the magazine's prestigious 2013 Asia awards.
Hosted at the Grand Copthorne Waterfront Hotel in Singapore, the award recognizes the significant achievements of the DME over the past year. Since appointing a new leadership team in mid-2012, the DME has experienced a rapid growth in trading volumes, an increase in its membership base and an upsurge in interest from the Asian market.
As oil consumption in Asia rises dramatically, DME has transformed itself into a globally relevant exchange, with its flagship Oman Crude Oil Futures Contract (DME Oman) now firmly established as the most credible crude oil benchmark in the rapidly growing East of Suez market.In July 2013, the DME announced record trading volumes, with ADV reaching 7,381, equivalent to almost 7.4 million barrels of oil a day. As a result, the three-month period from June to August made for three of the four best-ever months for the exchange. On receiving the award, Christopher Fix, Chief Executive of the DME said: "It really is great to be picking this award up for the team - a true recognition of their continued hard work in making DME one of the world's most rapidly growing exchanges. "This award is a real endorsement of the unique nature of our DME Oman contract and our position as the only exchange able to bridge the expanding crude oil corridor between the Middle East and Asia. "With healthy volumes, Exchange membership increasing and a physical presence in the Asia region we look forward to continuing to grow our footprint in the East." Further developments over the past twelve months saw the Exchange set up an office in Singapore in November 2012, recruiting Michelle Zhang as Head of Products and Services, Asia. The addition of new trading members Reliance Industries Limited (RIL) and Mitsubishi Corp during the past year has also served as a major endorsement of DME Oman's position as the only quality benchmark for crude oil trading in the Asian markets. About DME
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV