DME, an energy futures and commodities exchange in the Middle East, today announced a new open interest record for its flagship Oman Crude Oil Futures contract of 24,391 lots, which is equivalent to 24.4 million barrels of crude oil.
The previous record was set on 26 March 2013 when open interest was 23,429 lots.
DME has witnessed strong trading growth in recent months. A number of new participants have joined the DME Oman market, while existing customers have also stepped up their participation. In February, DME reached the 5 billion barrel mark, with a total of 5 million contracts (equivalent to 5 billion barrels) traded on the Exchange. That milestone came just 10 months after the DME passed the 4 billion mark.
Christopher Fix, Chief Executive of the Dubai Mercantile Exchange, said, “The new record today marks another success for the Oman Crude Oil Futures contract and indicates the trust we have gained from traders around the globe. This achievement directly reflects the robustness of our offering and we believe DME is well positioned to break yet more records in the near future.”
