DME Oman Crude Oil Financial Contract
(ZG)
Trading Unit
1,000 U.S. barrels (42,000 gallons)
Price Quotation
U.S. dollars and cents per barrel
Trading Symbol
ZG
Trading Hours
Electronic trading is conducted from 6:00 pm
until 5:15 pm
New York
time via the DME Direct® trading platform, Sunday through Friday.
There is a 45-minute break each day between 5:15 pm
New York time (current trade date) and 6:00 pm
New York
time (next trade date)
.
Trading Week
The trading week will start at 6:00 pm Sunday (New York
time) and will end at 5:15 pm Friday (New York time).
Trading Months
The current year and the next five years will be
listed. A new calendar year will be added following the termination of trading
in the December contract of the current year.
Minimum Price Fluctuation
$0.01 (1˘) per barrel ($10.00 per contract)
Maximum Daily Price Fluctuation
None
Floating Price
The floating price for each contract month will be equal to the settlement price
of the DME Oman Crude Oil Futures Contract as of 4:30 pm (
Singapore time) for the
corresponding contract month of the DME Oman Crude Oil Futures Contract
.
Daily Settlement
A daily settlement price will be published by the DME at
4:30 pm Singapore
time. The DME will also publish a "post close" price at
2:30 pm in New York, which coincides
with the close of the NYMEX trading floor. The DME post-close prices will be
used by Clearing Members and the Exchange to calculate the daily initial and
variation margins on all NYMEX and DME contracts.
Final Settlement Price
Delivery under the contract shall be by cash settlement. The final settlement
price following termination of trading for a contract month will be the floating
price for that contract month. The Exchange shall publish the final settlement
price on the last day of trading
in
that contract month. The final settlement price will be used for purposes of
margins for cash settlement.
Last Trading Day
Trading in the first nearby month shall cease on the trading day immediately
preceding the last day of trading in the first nearby month of the DME Oman
Crude Oil Futures Contract for the corresponding delivery month.
Trading in the first nearby month will stop at 4:30 pm (Singapore time)
on the last trading day.
Settlement Type
Financial
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