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DME Oman Crude Oil Futures Contract
Launched by the Dubai Mercantile Exchange (DME) on 1 June 2007, the DME Oman Crude Oil Futures Contract (OQD) is the Asian crude oil pricing benchmark. The contract is traded on the CME Group’s electronic platform CME Globex, and cleared through CME Clearport. Contract specifications Statistics ''*: the exchanged opened on 1 June 2007.'' DME Oman linked contracts On 5 December 2010, NYMEX launched six DME Oman-linked contracts, traded bilaterally and cleared through CME Clearport. These new DME Oman-linked contracts complement the OQD Futures contract and give market participants regulated and transparent Over-The-Counter (OTC) contracts. The contracts are: * DME Oman Crude Oil Swap Futures (DOO) * DME Oman Crude Oil BALMO Swap Futures (DOB) * ICE Brent vs. DME Oman Crude Oil Swap Futures (DBO) * DME Oman Crude Oil Average Price Option (DOA) * Singapore MOGAS 92 Unleaded (Platts) vs. DME Oman Crude Oil Swap Futures (DNB) * Singapore Gasoil (Platts) vs. DME Oman Crude Oil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dubai Mercantile Exchange
The Dubai Mercantile Exchange (DME) is a commodity exchange based in Dubai currently listing its flagship futures contract, DME Oman Crude Oil Futures Contract (OQD). Launched in 2007, the DME aims to become the crude oil pricing benchmark for the Asian market with its Oman Crude Oil contract, like the Intercontinental Exchange’s (ICE) North Sea Brent is to Europe and the New York Mercantile Exchange’s (NYMEX) West Texas Intermediate is to North America. The choice of the OQD contract as a benchmark was due to several important attributes of the crude oil itself and its infrastructure as opposed to the volume of export in comparison with other Middle East crudes. Firstly, the Omani crude oil is not subject to OPEC production quotas and/or cuts, nor is it subject to destination restrictions. Secondly, the geographical location of the export port Mina al Fahal (operated by Petroleum Development Oman - PDO),in Muscat into the Gulf of Oman, is past the Strait of Hormuz. Other ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Benchmark (crude Oil)
A benchmark crude or marker crude is a crude oil that serves as a reference price for buyers and sellers of crude oil. There are three primary benchmarks, West Texas Intermediate (WTI), Brent Blend, and Dubai Crude. Other well-known blends include the OPEC Reference Basket used by OPEC, Tapis Crude which is traded in Singapore, Bonny Light used in Nigeria, Urals oil used in Russia and Mexico's Isthmus. Energy Intelligence Group publishes a handbook which identified 195 major crude streams or blends in its 2011 edition. Benchmarks are used because there are many different varieties and grades of crude oil. Using benchmarks makes referencing types of oil easier for sellers and buyers. There is always a spread between WTI, Brent and other blends due to the relative volatility (high API gravity is more valuable), sweetness/sourness (low sulfur is more valuable) and transportation cost. This is the price that controls world oil market price. West Texas Intermediate (WTI) West Te ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CME Group
CME Group Inc. (Chicago Mercantile Exchange, Chicago Board of Trade, New York Mercantile Exchange, The Commodity Exchange) is an American global markets company. It is the world's largest financial derivatives exchange, and trades in asset classes that include agricultural products, currencies, energy, interest rates, metals, stock indexes and cryptocurrencies futures. The company offers futures contracts and options on futures using its CME Globex trading platforms, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates a central counterparty clearing provider, CME Clearing. With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana. The company has been described by ''The Economist'' as, "The biggest financial exchange you have never heard of". In 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NYMEX
The New York Mercantile Exchange (NYMEX) is a commodity futures exchange owned and operated by CME Group of Chicago. NYMEX is located at One North End Avenue in Brookfield Place in the Battery Park City section of Manhattan, New York City. The company's two principal divisions are the New York Mercantile Exchange and Commodity Exchange, Inc (COMEX), once separately owned exchanges. NYMEX traces its history to 1882 and for most of its history, as was common of exchanges, it was owned by the members who traded there. Later, NYMEX Holdings, Inc., the former parent company of the New York Mercantile Exchange and COMEX, went public and became listed on the New York Stock Exchange on November 17, 2006, under the ticker symbol NMX. On March 17, 2008, Chicago based CME Group signed a definitive agreement to acquire NYMEX Holdings, Inc. for $11.2 billion in cash and stock and the takeover was completed in August 2008. Both NYMEX and COMEX now operate as designated contract markets ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Over-the-counter (finance)
Over-the-counter (OTC) or off-exchange trading or pink sheet trading is done directly between two parties, without the supervision of an exchange (organized market), exchange. It is contrasted with exchange trading, which occurs via exchanges. A stock exchange has the benefit of facilitating liquidity, providing transparency, and maintaining the current market price. In an OTC trade, the price is not necessarily publicly disclosed. OTC trading, as well as exchange trading, occurs with commodities, financial instruments (including stocks), and derivative (finance), derivatives of such products. Products traded traditional stock exchanges, and other regulated bourse platforms, must be well standardized. This means that exchanged deliverables match a narrow range of quantity, quality, and identity which is defined by the exchange and identical to all transactions of that product. This is necessary for there to be transparency in stock exchange-based equities trading. The OTC ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
West Texas Intermediate
West Texas Intermediate (WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refers to the WTI Crude Oil futures contract traded on the New York Mercantile Exchange (NYMEX). The WTI oil grade is also known as Texas light sweet, oil produced from any location can be considered WTI if the oil meets the required qualifications. Spot and futures prices of WTI are used as a benchmark in oil pricing. This grade is described as light crude oil because of its low density and sweet because of its low sulfur content. The price of WTI is often included in news reports on oil prices, alongside the price of Brent crude from the North Sea. Other important oil markers include the Dubai crude, Oman crude, Urals oil, and the OPEC reference basket. WTI is lighter and sweeter, containing less sulfur than Brent, and considerably lighter and sweeter than Dubai or Oman. WTI crud ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago Mercantile Exchange
The Chicago Mercantile Exchange (CME) (often called "the Chicago Merc", or "the Merc") is a global derivatives marketplace based in Chicago and located at 20 S. Wacker Drive. The CME was founded in 1898 as the Chicago Butter and Egg Board, an agricultural commodities exchange. Originally, the exchange was a non-profit organization. The Merc demutualized in November 2000, went public in December 2002, and merged with the Chicago Board of Trade in July 2007 to become a designated contract market of the CME Group Inc., which operates both markets. The chairman and chief executive officer of CME Group is Terrence A. Duffy, Bryan Durkin is president. On August 18, 2008, shareholders approved a merger with the New York Mercantile Exchange (NYMEX) and COMEX. CME, CBOT, NYMEX, and COMEX are now markets owned by CME Group. After the merger, the value of the CME quadrupled in a two-year span, with a market cap of over $25 billion. Today, CME is the largest options and futures con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Petroleum Development Of Oman
Petroleum Development Oman (PDO) is the leading exploration and production company in the Sultanate of Oman. The Company delivers the majority of the country's crude oil production and natural gas supply. The company is owned by the Government of Oman (with a 60% interest), Royal Dutch Shell (34%), TotalEnergies (4%) and Partex (2%). The first economic oil find was made in 1962, and the first oil consignment was exported in 1967. History A geological survey of the country in 1925 by the D'Arcy Exploration Company found no conclusive evidence of oil. Twelve years later, when American geologists began intensively searching for oil in neighboring Saudi Arabia, Sultan Said bin Taimur granted a 75-year concession for central Oman to the Iraq Petroleum Company (IPC), and a separate concession for the province of Dhofar. Pausing only for the Second World War, exploration for oil was under way in Oman. IPC created an associate company, Petroleum Development (Oman and Dhofar) Ltd, to ope ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodity Futures Trading Commission
The Commodity Futures Trading Commission (CFTC) is an independent agency of the US government created in 1974 that regulates the U.S. derivatives markets, which includes futures, swaps, and certain kinds of options. The Commodity Exchange Act (CEA), ''et seq.'', prohibits fraudulent conduct in the trading of futures, swaps, and other derivatives. The stated mission of the CFTC is to promote the integrity, resilience, and vibrancy of the U.S. derivatives markets through sound regulation. After the financial crisis of 2007–08 and since 2010 with the Dodd–Frank Wall Street Reform and Consumer Protection Act, the CFTC has been transitioning to bring more transparency and sound regulation to the multitrillion dollar swaps market. History Futures contracts for agricultural commodities have been traded in the U.S. for more than 150 years and have been under federal regulation since the 1920s. The Grain Futures Act of 1922 set the basic authority and was changed by the Commo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dubai Financial Services Authority
The Dubai Financial Services Authority (DFSA) is the financial regulatory agency of the special economic zone, the Dubai International Financial Centre (DIFC), In Dubai, United Arab Emirates. It is distinct from the UAE's federal Securities and Commodities Authority, whose jurisdiction covers the wider UAE outside the boundaries of the DIFC. It operates only within the special economic zone and is tasked with providing a regulatory environment of international standards. The DFSA's regulatory mandate includes asset management, banking and credit services, securities, collective investment funds, custody and trust services, commodities futures trading, Islamic finance, insurance, an international equities exchange, and an international commodities derivatives exchange. In addition to regulating financial and ancillary services, the DFSA is responsible for supervising and enforcing anti-money laundering (AML) and counter-terrorist financing (CTF) requirements applicable in the DIFC. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Futures Exchanges
This is a list of notable futures exchanges. Those stock exchanges that also offer trading in futures contracts besides trading in securities are listed both here and the list of stock exchanges. Africa Kenya * Nairobi Securities Exchange (NEXT) Nigeria * Nigerian Stock Exchange (NSE) South Africa * South African Futures Exchange (SAFEX) Asia Eastern Asia China * China Financial Futures Exchange (CFFEX) * Dalian Commodity Exchange (DCE) * Shanghai Futures Exchange (SHFE) * Zhengzhou Commodity Exchange (ZCE) * Guangzhou Futures Exchange (GZFE) Hong Kong * Hong Kong Exchanges and Clearing (HKEx) ** Hong Kong Futures Exchange (HKFE) erged** Hong Kong Stock Exchange (HKSE) erged** London Metal Exchange (LME) * Hong Kong Mercantile Exchange (HKMEx, defunct) Japan * Japan Exchange Group (JPX) ** Osaka Exchange (OSE) ** Tokyo Commodity Exchange (TOCOM) * Osaka Dojima Commodity Exchange (ODEX) * Tokyo Financial Exchange (TFX) South Korea * Korea Exchange (KRX), forme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Traded Commodities
The following is a list of futures contracts on physically traded commodities. Agricultural Grains, food and fiber Symbol from "CME Group Website". cmegroup.com. CME Group. Retrieved 2010-10-20. Livestock and meat Energy Forest products Metals Industrial Precious Other List of largest global commodities trading companies # Vitol # Glencore International AG # Trafigura # Cargill # Salam Investment # Archer Daniels Midland # Gunvor (company) Beddu-Trading# Mercuria Energy Group # Noble Group # Louis Dreyfus Group # Bunge Limited # Wilmar International # Olam International # Cannon Trading Company # Prime Trading, LLC # Knarr Bank Commodity exchanges and regulators *Chicago Board of Trade *Chicago Mercantile Exchange *Commodity Futures Trading Commission *Dubai Mercantile Exchange *Euronext * ICE Futures Abu Dhabi *London International Financial Futures and Options Exchange * NASDAQ OMX Commodities *National Futures Association *New York Mercantile E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
