Dubai Mercantile Exchange (DME), the Middle East’s premier international energy futures and commodities exchange, announced today that it has approved Straits Financial LLC as a Clearing Member, DME said in a press release published on its official website.
Straits Financial LLC is a Futures Commission Merchant (FCM) registered with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). It is also a full Clearing Member of the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the Commodity Exchange (COMEX), the New York Mercantile Exchange (NYMEX) and Clearport, the OTC Clearing Exchange.
Together with its subsidiaries under the Straits Financial Group, the Company offers a wide range of services including execution, brokerage, clearing and electronic trading, providing clients the gateway to trade in the world’s leading exchanges, the statement DME statement said, adding that Straits Financial Group is the brokering division of CWT Limited, one of the largest publicly-listed logistics companies in South East Asia.
It is worth noting that DME has set a number of records in recent months through its continued growth curve in the first half of 2014 with its flagship DME Oman Crude Oil Futures Contract posting an average daily volume trading growth of more than 52% with 9,143 lots per day.
Commenting on the news, DME CEO Christopher Fix said “I am very pleased to welcome Straits Financial LLC on board as a clearing member. I see great potential in this mutually rewarding partnership to expand our volumes and enhance market access to our flagship DME Oman Contract which is the most relevant oil benchmark for the Asian market.”
On the other hand, Jeremy Ang, Straits Financial Group CEO, commented that “Becoming a clearing member on the DME is a strategic development for us as we offer enhanced access to new markets and trading opportunities for our valued customer base. For our energy-focused clients, the DME has a vital role to play by providing oil price discovery and risk mitigation.”
Straits Financial LLC is a Futures Commission Merchant (FCM) registered with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). It is also a full Clearing Member of the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the Commodity Exchange (COMEX), the New York Mercantile Exchange (NYMEX) and Clearport, the OTC Clearing Exchange.
Together with its subsidiaries under the Straits Financial Group, the Company offers a wide range of services including execution, brokerage, clearing and electronic trading, providing clients the gateway to trade in the world’s leading exchanges, the statement DME statement said, adding that Straits Financial Group is the brokering division of CWT Limited, one of the largest publicly-listed logistics companies in South East Asia.
It is worth noting that DME has set a number of records in recent months through its continued growth curve in the first half of 2014 with its flagship DME Oman Crude Oil Futures Contract posting an average daily volume trading growth of more than 52% with 9,143 lots per day.
Commenting on the news, DME CEO Christopher Fix said “I am very pleased to welcome Straits Financial LLC on board as a clearing member. I see great potential in this mutually rewarding partnership to expand our volumes and enhance market access to our flagship DME Oman Contract which is the most relevant oil benchmark for the Asian market.”
On the other hand, Jeremy Ang, Straits Financial Group CEO, commented that “Becoming a clearing member on the DME is a strategic development for us as we offer enhanced access to new markets and trading opportunities for our valued customer base. For our energy-focused clients, the DME has a vital role to play by providing oil price discovery and risk mitigation.”
Source:
Mubasher
