DFM and DME Ring Market Opening Bell to Start Oman Crude Oil Futures Trading – News

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DFM’s new monthly futures contract tracks the performance of DME’s Oman crude oil futures, making it accessible to a wide range of investors. It is traded in US dollars and settled in cash at its closing price.



Published: Wed 1 Jun 2022, 11:15 PM

Last update: Wed 1 Jun 2022, 11:18 PM

The Dubai Financial Market (DFM) launched trading in Oman crude oil futures on Wednesday, providing investors with a unique investment opportunity to invest in this key asset class.

The (Micro DME Oman Crude Oil) was launched at a market opening ceremony attended by Hamed Ali, CEO of DFM and Nasdaq Dubai and Raid Al-Salami, Managing Director of DME, as well as senior representatives of new product launch partners such as market makers and trading members.

DFM’s new monthly futures contract tracks the performance of DME’s Oman crude oil futures, making it accessible to a wide range of investors. It is traded in US dollars and settled in cash at its closing price.

The contract allows investors to participate in the movement of oil prices in the Middle East and to diversify their portfolios alongside other DFM products. A diversified product portfolio improves risk management and leverage potential against a lower investment amount, allowing investors to maximize their portfolio size.

Hamed Ali, CEO of DFM and Nasdaq Dubai, said: “The launch of Micro DME Oman Crude Oil Futures is another cornerstone for DFM as it brings a brand new asset class to the market allowing our investors, in particular retail investors, to participate in the opportunities of one of the region’s key economic sectors. We would like to express our sincere thanks to DME for cooperating with us to achieve this important milestone which creates a solid foundation for further joint initiatives, which ultimately strengthens Dubai’s position as a capital markets hub. , in line with the vision and strategy of the leaders to develop the financial markets in Dubai.

Raid Al-Salami, Managing Director of DME, said: “The micro DME contract offers retail investors the opportunity to trade a Middle East crude oil futures contract for the first time in the region. DME will always seek to enrich the local financial market in order to strengthen the position of the Emirate of Dubai as one of the world’s leading centers of capital.

The negotiation of new contracts is supported by 3 market makers including; xCube, Al Ramz Capital and BHM Capital. Several DFM commercial members will service the contract, including; International Securities, BHM Capital Financial Services, Al Ramz Capital, Mena Corp Financial Services, Al Dar Shares and Bonds, SICO Financial Brokerage, EFG Hermes (UAE) and Arqaam Securities.

The new contracts are also the first result of the collaboration agreement between DFM and DME to develop new investment opportunities and offer retail investors the opportunity to be directly involved in the largest and most important asset class. relevant to the region. — [email protected]

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