DME Contracts

DME Oman Crude Oil Futures Contract Summary (OQD)

Trading Unit
1,000 U.S. barrels (42,000 gallons)

Price Quotation
U.S. dollars and cents per barrel

Trading Symbol on Globex
OQD (referred as OQ on CME Clearing)

Trading Hours
Electronic trading is open from 1600 North American Central Standard Time / Central Daylight Time (CST/CDT) Sundays and from 1645 CST/CDT Monday to Thursday and closes at 1600 CST/CDT the next day, Monday to Friday.
Singapore is 14 hours ahead of CST and Dubai is 10 hours ahead. The time difference is reduced by one hour when CDT is in effect. Neither Dubai nor Singapore observe 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

Daily Marker and Settlement Price
A daily Marker price will be published as at 1630 Singapore time (1230 Dubai Time, 0230 CST or 0330 CDT). This price represents the weighted average price of trades in the nearby Contract Month between 1625 and 1630 (Singapore Time).
DME will also publish an end of trading day settlement price for all listed Contract Months, determined as at 1330 CST/CDT, 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 Marker Price
The Final Marker Price for a Contract Month shall be the marker price on the last Trading Day of the Contract Month. This price represents the weighted average price of trades in the second nearby Contract Month between 1625 and 1630 Singapore Time plus or minus the Price Adjustment Factor.
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.

Settlement Type

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



DME Trading and Settlement
for US Holiday Calendar 2018 Contract
Trading for Business Day DME Marker Price
DME Settlement 
Martin Luther King Day Monday, 17th January, 2022 Tuesday, 18th January, 2022 Yes No
Presidents' Day Monday, 21st February, 2022 Tuesday, 22nd February, 2022 Yes No
Good Friday Friday, 15th April, 2022 Closed No No
Memorial Day Monday, 30th May, 2022 Tuesday, 31st May, 2022 Yes No
Juneteenth Monday, 20th June, 2022 Tuesday, 21st June 2022    
Independence Day Monday, 4th July, 2022 Tuesday, 5th July, 2022 Yes No
Labor Day Monday, 5th September, 2022 Tuesday, 6th September, 2022 Yes No
Thanksgiving Day Thursday, 24th November, 2022 Friday, 25th November, 2022 Yes No
Christmas Day Monday, 26th December, 2022 Closed No No
New Year Day 2023 Monday, 2nd January, 2023  Closed No No
Note: The last trading day shall not be set for any CME Holiday.
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.
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See Legal Disclaimers (“DISCLAIMERS”) incorporated herein by reference.