DME, Ice neck-and-neck on crude futures

News

The Dubai Mercantile Exchange (DME) and electronic commodity-trading platform IntercontinentalExchange (Ice) launched competing crude futures products within two weeks of each other, and were neck-and-neck based on the trading volumes from their first three days.

On June 1, the DME started trading the physically delivered Oman crude oil futures contract, and the two financially settled Brent-Oman and West Texas Intermediate (WTI)-Oman spread contracts.

The DME's physically settled contract saw