The Dubai Mercantile Exchange Limited (DME), the Middle East's first energy futures exchange, today announced plans for an international education roadshow comprised of a series of free seminars aimed at building awareness of the DME and educating the global energy and trading community on key aspects of the Exchange and how it will operate.
The roadshow will take representatives of the DME and the New York Mercantile Exchange, Inc (NYMEX), a joint venture partner with Tatweer, a subsidiary of Dubai Holding, in the new Exchange, to key financial centers in Asia, Europe, North America and the Middle East. Seminars will commence in Singapore on the 4th of September in advance of the Asia-Pacific Petroleum Conference (APPEC) 2006 taking place between 5-7 September, followed by Hong Kong, Tokyo, London Mumbai and Muscat before concluding on the 14th of November in Dubai. The timing for the seminars in New York, Chicago and Houston will be announced at a later date.
The seminar series is open to all relevant market participants and will focus on providing information on the benefits of trading on the DME, the Oman sour crude oil futures contract that will initially be listed on the Exchange, as well as other important aspects of the DME including the contract terms and conditions, regulatory environment, NYMEX's AA+ rated clearinghouse (where all DME trades will clear), and the IT infrastructure.
Commenting on the announcement, DME Chief Executive Officer, Gary King said:
"We look forward to engaging with the international energy and trading community in the months ahead in order to ensure that they are fully aware of the DME and our efforts to launch a world class energy futures exchange. It is our aim to attract a mix of local, regional and international market participants to create an active energy trading community and we believe that education is critical in this process and to the ultimate establishment of a highly liquid market."
The DME will trade energy and other commodities in a transparent and well-regulated environment. Located within the Dubai International Financial Centre, the DME will be regulated by an independent world class regulator, the Dubai Financial Services Authority, and backed by NYMEX's clearinghouse.
For more information on the free seminar series or to register, click here.