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Home | Archive News : 2007

6 December 2007
Dubai Mercantile Marks First Six Months With Further Trading Records In November
The Dubai Mercantile Exchange Limited (DME) today reported further trading records in November as the Exchange marked its first six months with continued steady growth.

5 November 2007
Dubai Mercantile Exchange Sets Several New Records In Strong Finish to October Trading
The Dubai Mercantile Exchange Limited (DME) announced today that it set several new records in October to mark the strongest month of trading of its benchmark Oman Crude Oil Futures Contract since the launch of the Middle East’s first energy futures and commodities exchange on 1 June 2007.

24 October 2007
Dubai Mercantile Exchange Reports Record Open Interest for Benchmark Oman Crude Oil Future Contract
The Dubai Mercantile Exchange Limited (DME) today announced that it has achieved its highest level of open interest for its benchmark Oman Crude Oil Futures Contract, since the commencement of trading on the Exchange on 1 June 2007.

25 September 2007
Trading On Dubai Mercantile Exchange Tops 100,000 Contracts
The Dubai Mercantile Exchange Limited (DME) today announced that a record 100,000 contracts, with a value of approximately US $5.25 billion, have been traded on the Exchange in less than four months since its launch on 1 June 2007.

10 September 2007
Dubai Mercantile Exchange Completes Physical Delivery of Four Million Barrels of Oil
The Dubai Mercantile Exchange Limited (DME) today announced the successful delivery of contracts traded during the initial month of the Exchange. During the month of June the DME's benchmark contract, the Oman Crude Oil Futures Contract, went to expiration with open interest of 4,000 contracts, equivalent to 4,000,000 barrels of crude oil. These transactions were overseen by the Exchange and guaranteed by the Exchange’s Clearinghouse, and were successfully delivered during the month of August.

5 September 2007
Dubai Mercantile Exchange Reports Record Trading in Oman Crude Oil Futures Contract
The Dubai Mercantile Exchange Limited (DME) announced today that it has set volume records for both exchange-wide trading and for its benchmark Oman Crude Oil Futures Contract for the trade date September 04, 2007.

3 July 2007
Dubai Mercantile Exchange Completes First Month of Trading on an Historic Note with 4,000 Contracts going for Physical Delivery
Upon completion of the first full month of trading, the Dubai Mercantile Exchange Limited (DME) today announced key statistics achieved since its historic launch on June 1, 2007.

25 June 2007
Dubai Mercantile Exchange Receives Five Additional Overseas Regulatory Approvals Following Historic Launch
The Dubai Mercantile Exchange Limited (DME) announced today that it has received five further letters of 'no objection' from a number of overseas regulators, allowing additional traders from around the world to access the DME via DME Direct™, the Exchange’s state-of-the art trading platform.

20 June 2007
Dubai Mercantile Exchange Reports Exchange Wide Open Interest Exceeds 5,400 Contracts
The Dubai Mercantile Exchange Limited (DME) announced today that the Exchange-wide open interest reached 5,414 contracts upon the conclusion of business on June 18, 2007. This significant achievement was reached only twelve trading days after the Exchange launched its initial three contracts on June 1.

7 June 2007
Dubai Mercantile Exchange Records Further Trading Volume Records, Open Interest Increases by Over 50%
The Dubai Mercantile Exchange Limited (DME) announced today that it set two volume records during its fourth day of trading and recorded a large increase in exchange wide open interest.

6 June 2007
Dubai Mercantile Exchange Reports Third Straight Record Day
Dubai Mercantile Exchange Limited (DME) announced today that it has again set volume records for all three of its futures contracts and also for exchange wide volume during its third day of trading. DME also reported a significant jump in open interest.

5 June 2007
Dubai Mercantile Exchange Sets Exchange Wide Volume Records on Second Day of Trading
Dubai Mercantile Exchange announced that the Exchange set four volume records during its second day of trading. On the DME’s opening day, the Exchange recorded 2,889 contracts traded, which was surpassed today at 4:00 PM New York time when the DME published a total volume of 4,008.

1 June 2007
Dubai Mercantile Exchange Announces First Official Selling Price (OSP) After Historic Launch
History was made today when the Middle East’s first international energy futures and commodities exchange was launched by the Dubai Mercantile Exchange Limited (DME).

30 May 2007
Government of Dubai to Utilize DME as Reference Point for New Pricing of its Crude Oil Sales
The Dubai Mercantile Exchange Limited announced today that the Government of Dubai will cease pricing its export crude oil sales off its current mechanism and instead utilize DME futures prices upon launch of the Exchange. With this announcement, Dubai becomes an additional Middle East oil producing nation, along side the Sultanate of Oman, to utilize DME settlement prices for its crude oil pricing.

28 May 2007
Dubai Mercantile Exchange welcomes Sultanate of Oman as its Third Equity Partner, Oman Investment Fund Concludes 30% Equity Stake.
The Dubai Mercantile Exchange Limited (DME), initially a joint venture between Tatweer, a member of Dubai Holding, and the New York Mercantile Exchange Inc., (NYMEX), announced today that it has concluded a transaction with the Oman Investment Fund (OIF) to sell a 30% equity stake in the Exchange.

27 May 2007
Dubai Mercantile Exchange Receives Regulatory No-Action Relief from U.S. Commodity Future Trading Commission
The Dubai Mercantile Exchange Limited announced today that it has received “no-action” relief from the Division of Market Oversight of the US Commodity Futures Trading Commission (CFTC). This relief enables US-based DME Members and their "Guaranteed Customers" to enter orders directly from the US through DME Direct™.

24 May 2007
Dubai Mercantile Exchange Announces Details for Additional Production Testing for DME Direct™ for DME Contracts for May 26, 2007
In response to customer requests and in order to ensure successful connectivity to DME Direct™, the Dubai Mercantile Exchange Limited (DME) has scheduled a production test for Saturday, May 26, 2007 from 10.00 am to 12.00 pm Eastern Daylight Time. Please note that this will be the final production test planned prior to the June 1 launch.

16 May 2007
Dubai Mercantile Exchange Receives Additional Regulatory Approval from Overseas Jurisdiction in Run Up To Launch
The Dubai Mercantile Exchange Limited announced today that further to the earlier receipt of approvals and ‘no objection’ letters from overseas regulators, The Securities and Commodities Authority of the United Arab Emirates (UAE), The Rahoitustarkastus Finansinpektionen of Finland (in charge of Financial Supervision), The China Securities Regulatory Commission and the Central Bank of Lebanon have notified the DME of their ‘no objection’ to entities in those jurisdictions accessing the DME via DME Direct™, the Exchange’s state-of-the art trading platform.

15 May 2007
Dubai Mercantile Exchange Announces Details of May 19, 2007 Production Testing for DME Direct™ and ClearPortŪ Clearing for DME Contracts
In preparation for the June 1, 2007 launch of the Dubai Mercantile Exchange Limited (DME) and further to the production test successfully held on May 12, 2007 the Exchange will hold a second production test on Saturday, May 19, 2007 from 10.00 am to 12.00 pm Eastern Daylight Time. This will be the final production test planned prior to the June 1 launch.

8 May 2007
Dubai Mercantile Exchange Announces Details of Production Testing for DME Direct™ and ClearPortŪ Clearing for DME Contracts
In preparation for the June 1, 2007 launch of the Dubai Mercantile Exchange Limited (DME), the Exchange will conduct two production tests. The first will be held on Saturday, May 12, 2007 from 10 am to 2 pm Eastern Daylight Time (New York time). The second will be held on May 19, 2007 and a separate communication for this test will be issued shortly.

30 April 2007
Dubai Mercantile Exchange Receives Additional Regulatory Approvals From The Republic Of Korea And The Kingdom Of Bahrain
The Dubai Mercantile Exchange Limited (DME) announced today that further to earlier approvals and no objection letters from overseas jurisdictions, the Financial Supervisory Service of the Republic of Korea will grant the DME recognition as a foreign futures market Likewise, the Central Bank of Bahrain has notified the DME that they have no objection to the DME providing Bahrain-based entities access to DME Direct™, the DME’s state-of-the art trading platform. 

26 April 2007
Dubai Mercantile Exchange receives Authorized Market Institution approval from the Dubai Financial Services Authority
The Dubai Mercantile Exchange Limited (DME) announced today that it has been approved as an Authorized Market Institution (AMI) by the Dubai Financial Services Authority (DFSA). The DME is the second Exchange within the Dubai Financial Centre (DIFC) to be issued such a license from the DFSA.

19 April 2007
Dubai Mercantile Exchange Announces Rescheduling of Production Testing for DME Direct™
The Dubai Mercantile Exchange Limited (DME) today announced that it has decided to revise the launch date of the DME to June 1, 2007, subject to regulatory approvals of its clearing arrangement.

19 April 2007
Dubai Mercantile Exchange Revises Launch Program
The Dubai Mercantile Exchange Limited (DME), a joint venture between the New York Mercantile Exchange, Inc (NYMEX) and Tatweer, a member of Dubai Holding, today announced that it has decided to revise the launch date of the DME to June 1, 2007, subject to regulatory approvals of its clearing arrangement.

4 April 2007
Dubai Mercantile Exchange Receives Further Regulatory Approvals From The Middle East, Europe And Asia Pacific
The Dubai Mercantile Exchange Limited (DME), a joint venture between Tatweer, a member of Dubai Holding, and the New York Mercantile Exchange Inc. (NYMEX), announced today that it has received no objections from the Sultanate of Oman’s Capital Market Authority, the Financial Services Regulatory Authority of Ireland and the New Zealand Securities Commission and a regulatory authorization from the Swiss Federal Banking Commission.

3 April 2007
Dubai Mercantile Exchange approves 28 DME Members as strong interest continues
The Dubai Mercantile Exchange Limited (DME), a joint venture between Tatweer, a member of Dubai Holding, and the New York Mercantile Exchange Inc., (NYMEX), announced today that its Membership Committee has approved in principle 28 members to date, with more being processed as the DME prepares for launch on May 1, 2007.

14 March 2007
Dubai Mercantile Exchange Announces Production Testing for DME Direct™
In preparation for the upcoming launch of the Dubai Mercantile Exchange Limited (DME), and to ensure that all market participants are technologically prepared for the May 01, 2007 launch of the DME, the DME has announced dates for production testing of the DME Direct™ electronic trading platform. These dates will be April 21 & 28, 2007 (New York time). The exact timing of these sessions will be forthcoming.

5 March 2007
Dubai Mercantile Exchange receives first overseas approvals from regulators in Singapore and Japan
The Dubai Mercantile Exchange Limited (DME), a joint venture between Tatweer, a member of Dubai Holding, and the New York Mercantile Exchange Inc., (NYMEX), announced today that it has received its first approvals from overseas regulators in Singapore and Japan.

20 February 2007
Dubai Mercantile Exchange announces launch date 
The Dubai Mercantile Exchange Limited (DME), a joint venture between Tatweer, a member of Dubai Holding, and the New York Mercantile Exchange Inc., (NYMEX), announced today that the Middle East’s first energy futures exchange will launch officially on 1st May 2007.

14 February 2007
The Middle East’s first energy futures exchange welcomes Lord Mayor John Stuttard
The Dubai Mercantile Exchange Limited (DME), a joint venture between Tatweer, a member of Dubai Holding, and the New York Mercantile Exchange Inc. (NYMEX), was delighted to welcome the The Right Honorable The Lord Mayor of London, Alderman John Stuttard, today.