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Upon launch on June 1, 2007 the DME listed the first and only physically delivered Oman Crude Oil Futures Contract. It was created in response to strong industry demand for increased price transparency and the need for a better risk management tool, and has become the first successful exchange-traded East of Suez benchmark for crude oil. The DME has been working very closely with the industry on this historic and highly complex venture since conception in late 2005, and there continues to be overwhelming support for the Middle East’s first and only physically-backed energy futures contract.

In 2008 the DME launched two new financially settled contracts, the DME Brent Crude Oil Financial Contract and the DME Oman Crude Oil Financial Contract, which is cash settled  against the DME’s benchmark Oman Crude Oil Futures Contract. Transitioning the DME Oman Crude Oil Futures contract and the DME Oman financially settled contract to CME Globex in Q1 2009 will further increase opportunities for increased risk management by Asian refiners through sophisticated hedging strategies, as well as arbitrage opportunities and other advanced trading strategies for the trading community around the world.

In addition to being cleared at the NYMEX Clearinghouse, DME are also be available for block trading as well as Exchange for Physical (EFP) and Exchange for Swap (EFS) trades, using NYMEX’s ClearPort® Clearing.