Trading Unit
1,000 U.S. barrels (42,000 gallons)
Price Quotation
U.S. dollars and cents per barrel
Trading Symbol
OQD
Trading Hours
Electronic trading is open from 1800 U.S. Eastern Standard Time (EST) and closes at 1715 EST the next day, Sunday to Friday.
Singapore is 13 hours ahead of EST and Dubai is 9 hours ahead. The time difference is reduced by one hour when Daylight Savings Time is in effect. Neither Dubai nor Singapore observes Daylight Savings 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
Daily Settlement
A daily OSP settlement price will be published as at 1630 (Singapore) 0330 or 0430 EST. This price represents the weighted average price of trades in the nearby Contract Month between 1625 and 1630 (Singapore).
The DME will also publish an end of trading day settlement price for all listed Contract Months, determined as at 1430 EST, which coincides with the end of the trading day for NYMEX Light Sweet Crude Oil. This latter settlement price is used by the Clearing House to calculate daily variation margin on all open DME Contracts.
Final Settlement Price
The Final Settlement Price for a Contract Month shall be the OSP settlement price on the last Trading Day of the Contract Month. This price represents the weighted average price of trades in the nearby Contract Month between 1615 and 1630 (Singapore).
The Final Settlement Price will be used for purposes of margins for delivery of the Oil.
Last Trading Day
Trading in the nearby Contract Month shall cease on the last Trading Day of the second month preceding the Delivery Month that is a Singapore Business Day and a Clearing Business Day.
Settlement Type
Physical
Delivery
F.O.B at the Loading Port, consistent with current terminal operations. Complete delivery rules and provisions are detailed in Chapter 10 of the rulebook.
Governing Law
English Law
Holidays
1,000 U.S. barrels (42,000 gallons)
Price Quotation
U.S. dollars and cents per barrel
Trading Symbol
OQD
Trading Hours
Electronic trading is open from 1800 U.S. Eastern Standard Time (EST) and closes at 1715 EST the next day, Sunday to Friday.
Singapore is 13 hours ahead of EST and Dubai is 9 hours ahead. The time difference is reduced by one hour when Daylight Savings Time is in effect. Neither Dubai nor Singapore observes Daylight Savings 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
Daily Settlement
A daily OSP settlement price will be published as at 1630 (Singapore) 0330 or 0430 EST. This price represents the weighted average price of trades in the nearby Contract Month between 1625 and 1630 (Singapore).
The DME will also publish an end of trading day settlement price for all listed Contract Months, determined as at 1430 EST, which coincides with the end of the trading day for NYMEX Light Sweet Crude Oil. This latter settlement price is used by the Clearing House to calculate daily variation margin on all open DME Contracts.
Final Settlement Price
The Final Settlement Price for a Contract Month shall be the OSP settlement price on the last Trading Day of the Contract Month. This price represents the weighted average price of trades in the nearby Contract Month between 1615 and 1630 (Singapore).
The Final Settlement Price will be used for purposes of margins for delivery of the Oil.
Last Trading Day
Trading in the nearby Contract Month shall cease on the last Trading Day of the second month preceding the Delivery Month that is a Singapore Business Day and a Clearing Business Day.
Settlement Type
Physical
Delivery
F.O.B at the Loading Port, consistent with current terminal operations. Complete delivery rules and provisions are detailed in Chapter 10 of the rulebook.
Governing Law
English Law
Holidays
| DME Trading and Settlement Calendar 2010 |
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Trading for Business Day |
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DME Settlement (NYMEX intra-day Settlement) |
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DME Post Close Settlement (NYMEX Settlement) |
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Note: Where the last trading day of a calendar month falls on a Singapore or US public holiday, the last trading day for the nearby Contract Month shall be the previous trading day.
This information is a summary of the key elements of the DME Oman Crude Oil Futures Contract. For a full contract specification follow this link.
This information is a summary of the key elements of the DME Oman Crude Oil Futures Contract. For a full contract specification follow this link.
