12.53 AM Monday, 11 December 2023
  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 05:31 06:49 12:14 15:11 17:33 18:52
11 December 2023

Dubai Mercantile Exchange sets new records

By Wam

The Dubai Mercantile Exchange (DME) has announced record average daily trading volumes (ADV) of 8,162 lots in January 2014, equivalent to almost 8.162 million barrels of crude oil per day.

January’s total is 52 per cent higher than January last year and is a 27 per cent increase on last month.

DME’s previous record performance was 7,450 ADV, which was set in November 2013. Trading volumes have grown steadily since the DME was launched, and the yearly ADV jumped from 4,667 in 2012 to 6,355 in 2013.

During January, DME also welcomed Marubeni Corporation of Japan as its latest trading member, emphasising DME’s key role as the Exchange that bridges the ‘energy corridor’ between the Middle East and Asia.

Ahmad Sharaf, Chairman of the DME, said, "DME has made an excellent start to 2014 by surpassing the records that were set late last year. DME continues to attract new members and new customers to the exchange and this is creating a cycle of increased participation and growing volumes."