Source: RTS Realtime Systems Group
RTS Realtime Systems Group, a leading independent software vendor for electronic trading solutions, announced that the RTD trading applications were used in live trading on the first day of the newly launched Dubai Mercantile Exchange (DME).
With RTS providing connectivity to the DME platform, the firm's customers now have direct access to the first energy futures exchange in the Middle East.
The DME, a 50/50 joint venture between the New York Mercantile Exchange (NYMEX) and a subsidiary of Dubai Holding "Tatweer Dubai Limited," is 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. "