A. The Dubai Mercantile Exchange (DME) was launched in June 2007 with the goal of bringing fair and transparent price discovery and efficient risk management to the East of Suez (Middle East and Asia Pacific), the world’s fastest-growing commodities market and already the largest crude oil supply and demand corridor in the world.
The DME enjoys the backing of prominent regional and international stakeholders. The DME is a joint venture between Dubai Holding, Oman Investment Fund and CME Group. In addition to its core shareholders, global financial institutions and energy trading firms such as Goldman Sachs, J.P. Morgan, Morgan Stanley, Shell, Vitol and Concord Energy have taken equity stakes in the DME, providing the exchange with a resounding vote of confidence by major players in global energy markets.
The DME lists the Oman Crude Oil Futures Contract (DME Oman) as its flagship contract, providing the most fair and transparent crude oil benchmark for the East of Suez region. Today DME Oman is the explicit and sole benchmark for Oman and Dubai crude oil Official Selling Prices – the historically established markers for Middle Eastern crude oil exports to Asia.
A. DME works closely with all market stakeholders, including its strategic partners, national oil companies, oil majors and leading international market makers, to grow the DME's liquidity and build the DME marketplace as the venue for price transparency in East of Suez crude oil markets.
The contracts listed on the DME are: