DME shares key developments in 2009 with stakeholders
Dubai - 20 January 2010: 2009 was a positive year for the DME characterised by four significant developments. Firstly, liquidity has increased with trading volumes achieving a 69% year-on-year increase and average daily volumes approaching 3,000 lots in the last quarter. Secondly, the DME continues to strengthen its reputation as the largest physically-delivered contract in the world and achieved a record delivery of 11.6 million barrels in September 2009. Thirdly, the adoption of DME Oman as the basis for setting the Official Selling Price (OSP) for Dubai crude by the Dubai Department of Petroleum Affairs in June 2009 further reinforces the growing acceptance of the DME Oman contract as the third global crude oil pricing benchmark. And fourthly, DME contracts were migrated seamlessly onto CME Globex® thereby allowing market participants to access the world's three crude oil benchmarks on a single electronic platform.
The industry support we have received to date has been
critical to our continued development. We encourage
you to share your thoughts and feedback with us as we
work to cement DME Oman as the premier crude oil
benchmark in the East of Suez supply/demand basin.
We look forward to working with you as we further
develop and grow the DME in 2010.
Chief Executive Officer
