DFM and DME signs collaboration agreement

The Dubai Financial Market (DFM) and Dubai Mercantile Exchange (DME) signed a collaboration agreement that creates a broad framework for extensive collaboration to diversify investment opportunities by jointly exploring financial products that cater to DFM’s large and diversified investors base that exceeds 852 thousand investors.

The agreement was signed by Hamed Ali, CEO of DFM and Nasdaq Dubai, and Raid Al Salami, managing director of DME, in the presence of Ahmad Sharaf, chairman of DME, during the ‘Derivatives Day in Dubai’, the joint forum organised by the Dubai International Financial Centre (DIFC) in partnership with DME and CME Group, the world’s leading and most diverse derivatives marketplace.

The new initiative stems from both exchanges’ commitment to jointly implement Dubai’s strategy to develop financial markets and exchanges through various synchronised efforts.

As the first initiative under this agreement, the two exchanges are planning to create a working group, following Dubai’s strategy to further develop financial markets. The collaboration with DME will enable DFM to develop investments opportunities related to the GCC crude oil industry and offer retail investors the opportunity to be directly involved in the biggest and most relevant asset class in the region.

DFM plans to launch a new retail product derived from the Oman Crude Oil Futures, DME’s flagship contract that provides investors with unique opportunity to access this significant asset class.