The Dubai Mercantile Exchange (DME) and Emirates National Oil Company (ENOC) plan to jointly develop the first exchange-traded jet fuel futures contract. The contract is expected to be listed on the DME by the end of the year and to start trading in 2007.
The two companies will spearhead a task force that will comprise senior industry figures and will first meet in October. The task force will investigate the market's needs, existing pricing mechanisms and physical delivery criteria.
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