Home | FAQs | DME Oman Crude Oil Financial Contract (ZG)

Last Updated: 11/11/2008

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

Q. What is the DME Oman Crude Oil Financial Contract size?
A.  The contract size is 1,000 U.S. 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. How is the daily settlement price calculated?
A. The floating price for each contract month will be equal to the settlement price of the DME Oman Crude Oil Futures Contract as of 1630 (Singapore time) for the corresponding contract month of the DME Oman Crude Oil Futures Contract.  A daily settlement price will be published by the DME at 1630 Singapore time. The DME will also publish a "post close" price at 1430 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.

Q. What are the Price Fluctuation Limits and Price Limits for the DME Brent financially settled futures Contract?
A. The minimum price fluctuation is 1 cent ($0.01) per Barrel. There is no maximum price fluctuation limits.