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RTS Realtime Systems Group, a leading independent software vendor for electronic trading solutions, yesterday announced that it will provide connectivity to the Dubai Mercantile Exchange (DME).
The certification means that RTS customers will have direct access to the first energy futures exchange in the Middle East when it begins trading on June 1.
The DME, a 50/50 joint venture between the New York Mercantile Exchange (NYMEX) and a subsidiary of Dubai Holding "Tatweer Dubai Limited," will be located within Dubai's financial free zone, the Dubai International Financial Centre (DIFC).
Initially the DME will list three contracts- with the Oman Crude Oil Futures Contract being the first physically delivered Middle East sour crude oil futures contract - all cleared and guaranteed through NYMEX's clearinghouse.
"Today's announcement further demonstrates RTS' commitment to provide its worldwide growing futures traders users with direct access to established and new markets", said Steffen Gemünden, co-CEO of RTS, adding that "DME is our first step into the Middle East."
Gary King, Chief Executive Officer of the DME, commented: "The DME is committed to providing liquidity for producers, consumers and traders. The inclusion of RTS as one of the Exchange's ISV's will enhance accessibility and add further value to the Exchange. We look forward to welcoming their customers when the DME starts trading."
