Dubai Mercantile Exchange
Straits Financial LLC is a full clearing member of the Dubai Mercantile Exchange. The Dubai Mercantile Exchange Limited (DME) is the premier energy-focused commodities exchange in the East of Suez and home to the world's third crude benchmark.
The DME was launched in June 2007 with the goal of bringing fair and transparent price discovery and efficient risk management to the East of Suez. The DME lists the Oman Crude Oil Futures Contract (DME Oman) as its flagship contract, providing the most fair and transparent crude oil benchmark for the region. The DME Oman is the explicit and sole benchmark for Oman and Dubai crude oil Official Selling Prices (OSPs) - historically established markers for Middle Eastern crude oil exports to Asia. For more information click here.
About Oman Crude Oil:
Oman Crude is medium sour crude from Oman destined for East of Suez markets. It is under ticker symbol OQD (the DME is a fully electronic exchange, and its contracts are listed on CME Globex). Contract size is 1,000 barrels (42,000 gallons) with a contract price quoted in US Dollars and Cents per barrel. Contract settlement consists of physical delivery. Delivery dates take place every month of the year.