The Dubai Mercantile Exchange Limited announced today that it has received “no-action” relief from the Division of Market Oversight of the US Commodity Futures Trading Commission (CFTC). This relief enables US-based DME Members and their "Guaranteed Customers" to enter orders directly from the US through DME Direct™. In addition, the CFTC issued an order permitting NYMEX and CFTC-registered Futures Commission Merchants (FCM’s) to hold DME customer positions and associated funds in US customer-segregated accounts in connection with NYMEX’s clearing of futures and options on futures contracts traded on the DME.
The DME is set to launch the Middle East’s first and only physically-settled energy futures contract, the Oman Crude Oil Futures Contract, on June 1, 2007 as well as two financially settled futures contracts, a Brent-Oman spread contract and a WTI-Oman spread contract.
In addition, the DME, ENOC Supply & Trading (LLC) and Emirates Airline are currently exploring the development of a jet fuel futures contract in collaboration with other industry stakeholders with a view to listing the first jet fuel futures contract on the Exchange at a later date in 2007.
The DME is set to launch the Middle East’s first and only physically-settled energy futures contract, the Oman Crude Oil Futures Contract, on June 1, 2007 as well as two financially settled futures contracts, a Brent-Oman spread contract and a WTI-Oman spread contract.
In addition, the DME, ENOC Supply & Trading (LLC) and Emirates Airline are currently exploring the development of a jet fuel futures contract in collaboration with other industry stakeholders with a view to listing the first jet fuel futures contract on the Exchange at a later date in 2007.
No comments:
Post a Comment