UAE- DME selects Elysian Technology for auctions business

10/12/2015 7:14:47 AM

(MENAFN- Emirates News Agency (WAM))

DUBAI 12th October 2015 (WAM) -- The Dubai Mercantile Exchange DME has selected London-based Elysian Systems as the technology provider for its new commodity auction business.

DME will employ Elysian's market-leading auction software capacity to host spot auctions for physical energy products and other commodities in the Middle East and elsewhere.

"DME is excited about this new auction capacity which will enable the exchange to offer a very attractive solution to customers in the Gulf that are looking to buy or sell spot commodities in a transparent and fair manner" said Owain Johnson Managing Director of DME. "By partnering with Elysian DME can bring proven best-in-class auction technology to this region for the first time."

"We are delighted to partner with DME to support their new spot auction business line" said David Hoff CTO of Elysian Systems. "This is an exciting initiative for Elysian and DME and we look forward to signing up our first customers."

WAM/Esraa/Moran

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