The 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.
At 4:00 PM New York time, total trading volumes on the DME rose to 6,250, surpassing yesterday's volume of 4,008. The Exchange also set volume records for its Oman Crude Oil Futures Contract, which traded 4,085 contracts during the session. New highs were also reached in trading of the WTI Oman Financial Spread Contract and the Brent Oman Financial Spread Contract, which recorded volumes of 1,073 and 1,092, respectively.
Gary King, Chief Executive Officer of the DME, said "Through DME Direct, our state-of-the art trading system, our global customer base has been trading this contract virtually 24 hours a day. We continue to be encouraged by the support we are receiving from our members and customers who are trading the Oman Crude Oil Futures Contract, which we believe will soon be the new global benchmark for Middle East sour crude oil."
As of Tuesday, 5 June 2007, the Exchange-wide open interest was 1,842 contracts.