• About the DME
• Membership
• Trading on the DME
• DME Oman Crude Oil Futures Contract (OQD)
• DME Oman Crude Oil Financial Contract (ZGD)
• Information Technology
• Legal, Counterparty Risk, Clearing & Settlement

Q. What is the DME Oman Crude Oil Futures Contract size?
A. The contract size is 1,000 barrels.

Q. What are the contract trading months?
A. The current year and the next five years. A new calendar year will be added following the termination of trading in the December contract of the current year.

Q. When does the DME Oman Crude Oil Futures Contract settle?
A. A daily Oman OSP settlement price is published by the DME for the Oman Crude Oil Futures Contract at 1630 Singapore time (1230 in Dubai, 0330 or 0430 EST), which is the current close of the Singapore cash market.
This price is used in the monthly formula to calculate the official OSP for Oman Crude Oil term sales for that delivery month.

Q. How does the matching of participants in the physical delivery process take place?
A. All delivery matching is undertaken by the NYMEX Clearing House, based on Clearing House notices of intention to receive or deliver crude oil. For more details, please refer to the procedures for physical delivery mechanism in the DME Rulebook Chapter 10.

Q. Does the DME take alternative grades for delivery?
A. The DME does not have alternative grades for delivery, but if buyer and seller agree, they can enter into an Alternative Delivery Procedure (ADP) more details of which are in the DME Rulebook, Rule 10.14.
An ADP can take place once the contract expires and matching has taken place. 

Last Updated: 01/02/2009