According to the DME, the futures contracts that will be available for clearing on CME ClearPort are: DME Oman Crude Oil Swap Futures; DME Oman Crude Oil vs ICE Brent Swap Futures; DME Oman Crude Oil Average Price Option.
It also include Singapore MOGAS 92 Unleaded (Platts) vs DME Oman Crude Oil Swap Futures; Singapore Gasoil (Platts) vs DME Oman Crude Oil Swap Futures and DME Oman Crude Oil BALMO Swap Futures.
The contracts, which are scheduled to be listed for trade on 6 December are subject to the rules and regulations of NYMEX and Chicago Mercantile Exchange.
DME said that the introduction of a full suite of DME Oman-related risk management tools will help industry participants to manage price risk more effectively in the Middle East and Asia Pacific energy markets.
DME chairman Ahmad Sharaf said, the news marks an important step forward for the DME and builds on the steady progress that DME has been making since the launch just three years ago.
"These new contracts will offer our customers greater choice in addressing their risk management needs by providing additional flexibility in hedging and trading. It will also further consolidate the DME Oman contract as the third global crude oil pricing benchmark, alongside WTI and Brent," Sharaf said.
DME CEO Thomas Leaver said the listing by CME Group will bring these contracts to the market in an expeditious fashion, supported by a robust regulatory framework, state of the art trading facilities, and effective counterparty clearing.
