Dubai Financial Market to launch trading of Oman Crude Oil futures from June
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Dubai Financial Market to launch trading of Oman Crude Oil futures from June

Dubai Financial Market to launch trading of Oman Crude Oil futures from June

The contracts will be cash settled and will have a smaller contract size of 100 barrels making them accessible

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Dubai Financial Market

The Dubai Financial Market (DFM) has announced that it is launching the trading of its new Micro Oman Crude Oil contracts on June 1, 2022.

The contract will enable investors’ access to gain on the increase or decrease of oil prices, diversify their portfolios and access leverage to maximise portfolio size and potential returns. The contracts will be cash settled and will have a smaller contract size of 100 barrels making them accessible to a large number of investors, Dubai Media Office reported.

The contracts will be supported by three market makers including; xCube, Al Ramz Capital, and BHM Capital.

They will be offered by several DFM trading members including; International Securities, BHM Capital Financial Services, Al Ramz Capital, Mena Corp Financial Services, Al Dar Shares and Bonds, SICO Financial Brokerage, EFG Hermes (UAE) and Arqaam Securities.

The new contracts are also the first outcome of the collaboration agreement between DFM and DME to develop new investment opportunities and offer retail investors the opportunity to be directly involved in the biggest and most relevant asset class in the region.

Last month, HSBC became the first international General Clearing Member to join the Dubai Financial Market, enabling it to provide clearing and settlement services to its customers worldwide and to other DFM trading members.

Read: HSBC becomes first international general clearing member on Dubai Financial Market

Dubai Financial Market Company posting a 17 per cent increase in its net profit to Dhs27.5m for first quarter of the year, ending March 31, 2022, compared to Dhs23.4m recorded during the corresponding period of 2021. The company’s total consolidated revenue surged by 7 per cent to Dhs78.6m in Q1 of 2022 compared to Dhs73.4m during Q1 of 2021.

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