Dubai - Mubasher: The Dubai Financial Market (DFM) and Dubai Mercantile Exchange Limited (DME) have launched trading of Oman Crude Oil Futures Contracts to enable its investors to have access to a new asset class for the first time.
Traded in the US dollar and cash-settled as per their closing price, the new futures track the performance of DME’s Oman Crude Oil Futures, according to a press release on Wednesday.
Through these contracts, investors will benefit from the Middle East oil price movement and diversify their portfolios to improve risk management.
The new contracts' trading is supported by three market makers comprising xCube, Al Ramz Capital, and BHM Capital.
The CEO of DFM and Nasdaq Dubai, Hamed Ali, said: "The launch of Micro DME Oman Crude Oil Futures is a new millstone for DFM as it brings in an entirely new asset class to the market enabling our investors, in particular retail investors, to participate in the opportunities of one of the key economic sectors in the region."
Meanwhile, the Managing Director of DME, Raid Al Salami, commented: "DME will always look to enrich the local financial market in order to enhance the position of the Emirate of Dubai as one of the major global capital hubs."
