Dubai oil exchange approved for block trading

The Dubai Mercantile Exchange (DME) received approval yesterday for block trading of its Oman crude oil futures, which will allow traders to submit off-exchange transactions.

From January 14, customers will be able to submit privately negotiated trades of the futures contract, which the exchange launched on June 1.

Block trades can be submitted to the DME via the New York Mercantile Exchange (Nymex) Clearport trade entry platform by a broker or the Nymex facilitation desk. The block trades must be reported to the exchange within five minutes of execution and the minimum size will be 100 contracts.

DME chief executive Gary King said: “This latest development is in response to a growing demand from our members and customers to submit their off-exchange transactions to the DME.”

Block trading approval came from the DME’s regulator, the Dubai Financial Services Authority.

See also:  DME, Ice neck-and-neck on crude futures

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here