G. H. Financials has today become a Clearing Member of DME, the Middle East’s premier international energy futures and commodities exchange.
As a Clearing Member, G. H. Financials will guarantee the financial performance of trades carried out by its customers on the DME. All DME market participants are required to maintain an account with a DME Clearing Member. All trading in DME contracts is cleared through CME Clearing, a division of CME Group.
Founded in London in 1993, G. H. Financials has since expanded around the world and operates growing subsidiaries in Chicago and in Hong Kong. G. H. Financials has a strong focus on Asia and so it was a natural move for the firm to join the DME, which has emerged as the key venue for Asian crude oil trading.
DME has set a number of records in recent months and average daily volumes (ADV) of its flagship Oman Crude Oil Futures Contract surpassed 10mn barrels during February 2014.
Christopher Fix, Chief Executive of DME, said: “Clearing Members underpin all the trading activity that takes place on the DME, so I am delighted to see an organization of G. H. Financials’ scale and ambitions take a clearing membership of the exchange. Both DME and G. H. Financials are growing at a rapid pace and setting volume records so we foresee a great partnership between our two organizations.”
Mark Ibbotson, Group CEO of G. H. Financials, said: “G. H. Financials is delighted to join the DME as a clearing member. G. H. Financials has a strong commitment to deliver new markets and trading environments to our clients around the world. There is growing demand from our energy focused clients for market access and clearing services for the DME Oman Crude Oil Product. G. H. Financials will always look to serve our customers in the markets they want to access with market leading connectivity and clearing solutions.”
For more information, please contact:
Mayssam Hamadeh - Head of Corporate Communications mayssam.hamadeh@dubaimerc.com or +971 506523754
Walid Majzoub - TRACCS (PR agency) on walid.majzoub@traccs.net or +9714 3672530
