Launched by the Dubai Mercantile Exchange (DME) on 1 June 2007, the DME Oman Crude Oil Futures Contract (OQD) is the Asian crude oil pricing benchmark. The contract is traded on the CME Group’s electronic platform CME Globex, and cleared through CME Clearport.
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Statistics
*: the exchanged opened on 1 June 2007.
DME Oman linked contracts
On 5 December 2010, NYMEX launched six DME Oman-linked contracts, traded bilaterally and cleared through CME Clearport. These new DME Oman-linked contracts complement the OQD Futures contract and give market participants regulated and transparent Over-The-Counter (OTC) contracts. The contracts are:
The two main contracts which traded immediately were the DOO and the DOB with over 1.7 million barrels (270,000 m3) traded in the first week of their launch.