DME & GX Sign MOU to develop crude oil and refined products futures
Dubai Mercantile Exchange (DME) and General Index Limited (GX) today signed a Memorandum of Understanding (MoU) in a move to further drive the growth and development of energy risk management and commodity derivatives markets in the Middle East and Asia.
Raid Al-Salami, MD, DME said:” Today’s MoU reflects our commitment to support the regional development of energy risk management ecosystem. We will work closely with GX to pave the way towards possible new products and many joint educational activities to enhance the awareness on crude oil benchmarks and how it serves both users and producers.”
The strategic partnership will enable DME and GX to explore areas of cooperation including joint education activities and collaboration to promote crude oil and refined products benchmarks and highlight the necessity of hedging instruments against markets volatility
Neil Bradford, CEO, GX said:” We see great potential in combining the DME leadership position in Middle East and Asia crude benchmarks with GX’s innovative, technology-led approach to providing market data. Together we will provide new solutions to enable our joint clients to understand markets and manage risk.”
“GX was recently introduced to the market and was built on a very strong base with more than 30 years of experience in the energy markets and hence we are positive that our partnership today will bring a great value to our customers and our region.” Al-Salami ended
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