Dubai, UAE, 13 October, 2020 – Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East, has signed a Memorandum of Understanding (MoU) with Kpler, the leading provider of data-driven transparency solutions in commodity markets.
The strategic partnership will provide access to data from hundreds of sources including AIS signals, satellite images, logistics and commercial reports, and governmental and shipping databases. Kpler’s proprietary technologies systematically aggregate and process this information to deliver real-time intelligence across more than 20 commodity markets. The company’s data is trusted by more than 450 organizations globally, including trading houses, IOCs, NOCs, shipping companies, banks, and hedge funds.
Commenting on the signing of the MoU, Raid Al-Salami, Managing Director, DME, said: “We are pleased to partner with Kpler to enrich the trading experience for our customers by providing access to real-time intelligence on commodity inventories, flows, and freight. By enabling traders to observe emerging market trends in great detail, we are assisting them to manage risk and develop more successful strategies. Kpler has emerged as the uncontested leader of their field in terms of coverage and data quality and we look forward to working closely with them. The integration of their market intelligence will further cement DME’s position as a pioneering regional exchange.
”François Cazor, Co-founder and CEO of Kpler, said: “We are thrilled to partner with DME, one of the most important entities in the Middle East and East Asian crude markets through its Oman Crude Oil Futures Contract. Kpler and DME share a common vision of Dubai as a pivotal trading hub for our industry, linking the supply hub of the Middle East with demand centers across the world. Through this partnership, we signal our commitment to these interlinked markets and further solidify our position as the leading provider of market intelligence for commodities trade. We look forward to helping DME integrate Kpler data and to reaching new heights in the region together.”
About Dubai Mercantile Exchange (DME): –
DME is the premier international energy futures and commodities exchange in the Middle East. It aims to provide oil producers, traders and consumers engaged in the East of Suez markets with transparent pricing of crude oil.
Launched in 2007, DME has rapidly grown into a globally relevant exchange. Its flagship Oman Crude Oil Futures Contract (DME Oman) contract is now firmly established as the most credible crude oil benchmark relevant to the rapidly growing East of Suez market. Reflecting the economics of the Asian region like no other contract, and the largest physically delivered crude oil futures contract in the world, DME Oman is the world’s third crude oil benchmark and the sole benchmark for Oman and Dubai exported crude oil.
DME is a fully electronic exchange, with regulatory permissions allowing access from more than 20 jurisdictions, including the major financial centers of Asia, Europe and the United States. The Exchange is located within the Dubai International Financial Center (DIFC), a financial free zone designed to promote financial services within the UAE. The DME is regulated by the Dubai Financial Services Authority and all trades executed on the DME are cleared through and guaranteed by CME Clearing.
DME is a joint venture between Dubai Holding, Oman Investment Fund and CME Group. Global financial institutions and energy trading firms including Goldman Sachs, JPMorgan, Morgan Stanley, Shell, Vitol and Concord Energy also hold equity stakes in the DME. www.dubaimerc.com
Kpler is the leading provider of transparency solutions in commodity markets. Kpler develops proprietary technologies that systematically aggregate and process data from hundreds of sources including AIS signals, satellite images, logistics and commercial reports, and governmental and shipping databases. By connecting the dots across fragmented information landscapes, the company provides market professionals with real-time intelligence (flows, inventories, freight) across more than 25 commodity markets. Since its creation in 2014, Kpler has expanded at an unprecedented rate, organically growing from a startup into an independent global group with over 100 employees in eight strategic international locations.www.kpler.com
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