The Dubai Mercantile Exchange (DME) today crossed the 10 million contracts mark, with an overall of 10 billion barrels of Omani crude oil traded on the Exchange given that beginning.

The turning point comes after DME has signed up a 11% increase in trading volumes till date this year, while setting new record for physical shipment. DME provided 27,342,000 barrels in March 2016, maintaining DME Oman's position as the energy futures contract with the largest physical delivery on the planet.

"Today's landmark highlights the essential function DME plays in the oil markets of the Middle East and Asia, enabling transparency and reasonable crude oil costs for both manufacturers and users. We have won clients' trust around the world and especially in Asia by offering the most trusted regional oil cost standard and a fully regulated trading environment," said DME Chairman Ahmad Sharaf.

"Crude oil markets are progressively unpredictable, which highlights the requirement for managed danger management options such as the DME Oman Crude Oil Futures contract. DME is experiencing strong interest from brand-new players in Asia and we continue to grow our customer base, which presently consists of more than 90 global players," Sharaf included.

The Exchange just recently revealed a roundtable event in China to assist independent Chinese refiners with the Exchange's registration process, allowing these new market entrants to start trading Oman petroleum futures agreements on DME.