It confirmed its gaining the confidence of the strategic partners and consolidating its position as an approved reference in the energy markets

Maktoum bin Mohammed: Dubai government support for the Energy Exchange will continue

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His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, affirmed that the Dubai government has provided all means of support necessary for the growth of the financial markets operating in it, and within an integrated partnership relationship, during which the emirate was keen to continue developing the legislative and infrastructure infrastructure. This will enable these stock exchanges to consolidate their presence at the regional and global levels, and enhance their presence as a strong and active partner in the market.

His Highness said, "The Dubai Energy Exchange has gained the confidence of the strategic partners, and has established its position as an approved reference in the energy markets, and the Dubai Government's support for it will continue."

Trading growth

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, during a meeting with members of the Board of Directors of the Dubai Mercantile Exchange, praised what the exchange had achieved during the last stage, pointing out that the exchange's successful strategy contributed to the unprecedented growth of trading volume, and enhanced its ability to benefit from growth Steady for trading crude oil in the Middle East and Asia.

His Highness also reviewed with the members of the Board of Directors the developments in the sector at the regional and global levels, especially in light of the rapid changes in the energy market, and the great opportunities it holds for growth.

quality achievements

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum was acquainted with the qualitative achievements of the DME during the last period, as the number of companies using the exchange platform for actual delivery reached 60 companies, and the number of barrels of oil delivered through the DME mechanism reached 2.5 billion. barrels, and the equivalent of 17 billion barrels was traded, while the number of barrels of oil that are priced according to the Oman crude oil futures contracts on a daily basis is 5.2 million barrels.

Oman Forward Contract

The Dubai Energy Exchange lists the Oman future contract (DME Oman) as its main contract, which provides the most disciplined and transparent crude oil standards in the region. The Oman crude future contract has become the main indicator for about 170 million barrels of crude oil per month since 2018, after That it was limited to the pricing of about 30 million barrels per month.

DME

It is noteworthy that the DME is the first international exchange in the Middle East for energy futures and commodities, and it aims to provide oil production companies, traders and dealers interested in the markets, with transparent and credible prices for crude oil, as it provides a trading environment that is subject to tight laws and depends on standards of transparency and financial security. .

The main shareholders in the stock exchange own a majority stake: Tatweer Company, a member of Dubai Holding, the Chicago Commodity Exchange Group, and the Oman Investment Authority.

A large group of international financial institutions and energy trading companies were keen to acquire shares of the DME shares, including “Goldman Sachs”, “Morgan Stanley”, “JP Morgan”, “Vitol”, “Shell Group”, which Giving the stock market more confidence by the most prominent international energy companies.

The exchange is located within the Dubai International Financial Center and is governed by the laws of the Dubai Financial Services Authority.

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