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Article Excerpt
CME Group, the world's largest and most diverse derivatives exchange, and the Dubai Mercantile Exchange Limited (DME), the premier international energy futures and commodities exchange based in the Middle East, announced that they have successfully completed the migration of DME's contracts to the CME Globex(R) electronic trading platform.
The successful transition enables the world's three crude oil benchmarks - WTI, Brent and Oman - to trade on the same platform alongside CME Group products across all major asset classes. The DME contracts will be accessible for trading beginning 18:00 EST on Sunday, February 1, equivalent to 03:00 Dubai and 07:00 Singapore on Monday, February 2. Clearing will continue to process through the NYMEX clearing house until it is integrated with CME Clearing.
Welcoming the move, Ahmad Sharaf, Chairman, DME, commented, "This migration is not only a strong step forward in the growth of the DME's existing contracts but is also a mark of the success that the DME has achieved...
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