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Investor Relations
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FinancialNews
06-04-21
Dubai Mercantile Exchange opens bilateral platform
(MENAFN)The Dubai Mercantile Exchange inaugurated a mutual platform to trade multiple Middle East oil grades priced against DME’s Oman crude futures.
According to the exchange, it gives traders the chance to trade mutual barrels of Dubai, Upper Zakum, Murban, Basrah Light, Basrah Heavy, Al Shaheen and Oman versus the DME Oman Sour Crude Benchmark futures.
The platform plans to expand the footprint of DME Oman crude futures as a benchmark for Middle East crude.
DME Managing Director Raid Al-Salami stated that “ACE is a unique platform where it combines Futures and OTC in one transparent window for the very first time, offering all participants opportunities to optimize their trading activities and manage their exposure across multiple crude grades.”
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