TT intends to support trading of all inaugural DME products through its X_TRADERÂ® order entry platform. The initial contracts to be traded on the DME include Oman Crude Oil Futures, the first exchange traded Middle East sour crude benchmark, as well as Brent-Oman spread and WTIOman spread contracts.
âThe launch of our DME gateway will mark TTâs first link to the markets in the Middle East. We anticipate that connectivity to the Dubai Mercantile Exchange will further enhance our value proposition to energy traders,â said Harris Brumfield, CEO of TT.
Gary King, Chief Executive of the Dubai Mercantile Exchange said, âWe are delighted that TTâs customers will be able to connect to DME Direct, our state-of-the-art and highly secure trading platform, to transact energy futures contracts and manage their risk.
âThe DME is committed to providing the global energy community with a highly accessible and liquid market in which to trade Middle East sour crude oil and other energy products. The inclusion of TT as one of the Exchangeâs ISVs will enhance accessibility to the exchange and we look forward to welcoming their customers when the DME starts trading.â
The DME gateway will connect to TTâs X_TRADERÂ® order-entry software. It also will connect through TTâs X_TRADER API and FIX Adapter to third-party, proprietary and black-box trading applications. TT's fast, reliable exchange connections enable trading of the world's major futures exchanges as well as OTC energy, foreign exchange, fixed income and other instruments.