UAE - Mubasher: The Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East, on Sunday announced it has approved of Macquarie Futures USA LLC as a clearing member.
Following this move, Macquarie Futures will clear and settle trades conducted by its regional and international customers on the DME, according to a press release.
The global futures division of Macquarie Group currently offers clearing services to a number of clients including institutions and corporations, asset managers, producers, CTAs, and investment banks around the world.
The futures broker holds up to $3 billion in futures client funds, the DME highlighted.
Raid Al-Salami, managing director of DME, said: “DME Oman is witnessing record participation from traders this year due to its transparency and genuine representation of the oil market in the Middle East and Asia”
“We are very pleased to have Macquarie Futures USA join us as a Clearing Member. This will help support still greater liquidity for our customers and allow DME to continue its expansion and growth momentum,” Al-Salami added.
The step highlights the accelerating interest in DME Oman among a traders from around the globe.
In 2019, over 120 customers have traded the contract, contributing 45% growth in forward trading.
Macquarie Group’s Futures Division has opertations in Australia, Asia, the UK, the US, and Canada, providing clients with market coverage in listed and over-the-counter (OTC) derivatives.
