Oman Crude Oil Futures Contract

Topics: Futures contract, Petroleum, Sweet crude oil Pages: 3 (843 words) Published: March 1, 2013
Oman Crude Oil Futures Contract
1. Exchange: Dubai Mercantile Exchange
2. Trading Unit: 1,000 U.S. barrels (42,000 gallons)
3. Contract Value: The contract value shall be the Final Settlement Price multiplied by one thousand (1,000) multiplied by the number of Contracts to be delivered 4. Price Quotation: U.S. dollars and cents per barrel 

5. Trading Symbol: OQD
6. Trading Hours : Electronic trading is open from 16:00 CST/CDT Sundays and from 17:00 CST/CDT Monday to Thursday and closes at 16:15 CST/CDT the next day, Monday to Friday. 7. Trading Months: The current year and the next five years will be listed.  8. Minimum Price Fluctuation: $0.01 (1) per barrel ($10.00 per contract)  9. Daily Settlement: A daily OSP settlement price will be published as at 16:30 Singapore time. 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 13:30 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. 10. 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 Time. The Final Settlement Price will be used for purposes of margins for delivery of the Oil.  11. Last Trading Day 

Trading in the nearby Contract Month shall cease on the last Trading Day of the second month preceding the Delivery Month.  12. Settlement Type :Physical 
13. 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. 14. Governing Law:...
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