07/11/2008
Spread |
Product Description |
ZO: ZG |
DME Brent Crude Oil Financial minus DME Oman Crude Oil Financial Contract |
This inter-commodity spread (ZO:ZG) will be available for trading on DME DirectTM beginning on July 27 at 1800 in New York, which equates to 2300 in London, or 0600 on July 28 in Singapore, for trade date July 28, 2008.
The DME Brent Crude Oil Financial Contract (code ZO) is cash-settled based on the ICE Brent Crude Oil Futures Contract. Trading terminates at the close of business on the business day immediately preceding the 15th day prior to the first day of the delivery month, if such 15th day is a banking day in London. If the 15th day is a non-banking day in London (including Saturday), trading shall cease on the business day immediately preceding the first business day prior to the 15th day.
The DME Oman Crude Oil Financial Contract (code ZG) is financially-settled based on the physically-delivered DME Oman Crude Oil Futures Contract. Trading terminates on the penultimate (second-to-last) trading day of the DME Oman Crude Oil Futures Contract, i.e., the second-to-last business day of the second month preceding the contract month.
These new contracts are listed for up to 72 consecutive months. The contract specifications for the new contracts are available on the DME website:
DME Brent Crude Oil Financial Contract
http://www.dubaimerc.com/contractSpecZO.html
DME Oman Crude Oil Financial Contract
http://www.dubaimerc.com/contractSpecZG.html