14 December 2017
visit http://response.ncr.com

DME launches trading tool for Oman futures

01 July 2014  |  1254 views  |  0 Source: DME

DME, the Middle East's premier international energy futures and commodities exchange, launched a new trading mechanism today, 'Trade at Marker' (TAM), for customers of the DME Oman crude oil futures contract.

TAM will allow DME customers to buy and sell oil at a price directly linked to DME's 12:30pm Marker Price. The average of the month's Marker Prices on DME is the basis of the crude oil export price of the Sultanate of Oman and the Emirate of Dubai, making the DME Marker Price one of the world's key energy benchmarks.

The ability to trade the Marker Price directly will be very useful to investors who want exposure to Oman and Dubai's crude oil export price but who may not necessarily want to trade during DME's settlement window. The TAM trading mechanism can be traded on a daily basis for the front three months of the DME Oman crude oil contract. TAM will be particularly useful for asset managers that want exposure to the DME Oman without needing to participate in the price-formation process or refiners that would like to guarantee that their procurement costs are as close as possible to the Official Selling Price (OSP) of Oman crude oil.

DME has seen its trading volumes surge in recent months. Volumes between January and May 2014 were 57% higher than in the same period of the previous year.

Christopher Fix, Chief Executive Officer of DME, said: "We are always committed to provide our customers with different tools to manage their risk more easily. At a time when price volatility has returned to the market, a trading mechanism like Trade at Marker that provides greater certainty in execution will be very attractive to some traders. I am confident that this launch will add to DME's growing reputation for innovation." 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.response.ncr.comvisit www.aciworldwide.com

Top topics

Most viewed Most shared
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
12245 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
9562 views comments | 16 tweets | 22 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
8183 views comments | 17 tweets | 36 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
7405 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
7296 views comments | 20 tweets | 11 linkedin

Featured job

Competitive
Germany, Austria or Switzerland

Find your next job