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DFM and DME ring market opening bell to launch trading of Oman crude oil futures

DFM and DME ring market opening bell to launch trading of Oman crude oil futures

DFM and DME ring market opening bell to launch trading of Oman crude oil futures
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Oman Crude Oil Futures Contracts are now being traded on the Dubai Financial Market (DFM), giving investors a unique opportunity to invest in this important asset class.

In the presence of Hamed Ali, CEO of DFM and Nasdaq Dubai, and Raid Al-Salami, Managing Director of DME, as well as senior representatives of the new product’s launch partners, such as market makers and trading members, the (Micro DME Oman Crude Oil) was launched during a market opening bell ringing ceremony.

DFM’s new monthly futures contract mirrors the performance of DME’s Oman Crude Oil Futures, allowing a wide range of investors to participate. It is traded in US dollars and is settled in cash at the previous day’s closing price.

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Along with other DFM products, the contract allows investors to participate in Middle East oil price movement and diversify their portfolios. A broad product portfolio improves risk management and leverage potential while requiring a smaller initial investment, allowing investors to increase the size of their portfolio.

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“The launch of Micro DME Oman Crude Oil Futures is a new millstone for DFM as it brings in an entirely new asset class to the market enabling our investors, particularly retail investors, to participate in the opportunities of one of the region’s key economic sectors,” said Hamed Ali, CEO of DFM and Nasdaq Dubai. We’d want to express our heartfelt gratitude to DME for their assistance.

“The mini DME contract allows individual investors the ability to trade a Middle Eastern crude oil futures contract for the first time in the region,” said Raid Al-Salami, Managing Director of DME. DME will continue to seek to deepen the local financial sector in order to strengthen the Emirate of Dubai’s position as one of the world’s leading capital centres.”

Three market makers, including xCube, Al Ramz Capital, and BHM Capital, are supporting the new contracts’ trading. International Securities, BHM Capital Financial Services, Al Ramz Capital, Mena Corp Financial Services, Al Dar Shares and Bonds, SICO Financial Brokerage, EFG Hermes (UAE), and Arqaam Securities are among the DFM Trading Members who will service the contract.

The new contracts are also the first result of DFM and DME’s collaboration agreement to generate new investment opportunities and provide retail investors with direct access to the region’s largest and most important asset class.

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