The Dubai Mercantile Exchange Limited (DME) announced today that its Membership Committee has approved Jump Trading LLC as a Clearing Member. Jump Trading becomes the 24th Clearing Member of the Exchange.
Ahmad Sharaf, Chairman of the DME, commented: "Welcoming Jump Trading to the DME as a Clearing Member signifies the growing awareness of the DME amongst the leaders in the algorithmic trading community.
"In creating the DME Oman Crude Oil Futures Contract, the DME built, launched, and continues to trade the first successful exchange traded futures contract for the East of Suez region, the only production and refining region dominated by the value of "sour" crude. This opens up opportunities for traders to arbitrage the sweet/sour differential between WTI/Oman and/or Brent/Oman on the CME Globex platform.
"The commitment of a company such as Jump Trading, which is at the forefront of high-frequency electronic trading, to join as a member of the DME marks a milestone in the maturity of the contract, as it continues to build in liquidity."