Dubai Mercantile Exchange (DME) reported average daily volumes of 5,864 lots and physical delivery volume of 13.5 million barrels last month, an increase of 10% on January 2013.DME open interest reached 20,301 lots on 26 February, the highest level seen since May 2012; 51 companies traded DME in February - the highest ever single-month total, according to DME's recent monthly report.
Two new customers began trading the DME in February, taking total number of participants in the past 12 months to 67.
Average open interest in months 2-4 grew by 24% as interest continues to grow in the intermonth spread market. At the start of February, DME reached 4 billion barrels traded.
DME, the premier international energy futures and commodities exchange in the Middle East, was launched in June 2007 with the goal of bringing fair and transparent price discovery and efficient risk management to the East of Suez.