DME Oman Crude Oil Financial Contract Summary (ZGD)
1000 U.S. barrels (4,200 gallons)
U.S. dollars and cents per barrel
Trading Symbol on Globex
ZGD (referred as ZG on CME Clearing)
Electronic trading is open from 1600 North American Central Standard Time / Central Daylight Time (CST/CDT) Sundays and from 1645 CST/CDT Monday to Thursday and closes at 1600 CST/CDT the next day, Monday to Friday.
Singapore is 14 hours ahead of CST and Dubai is 10 hours ahead. The time difference is reduced by one hour when CDT is in effect. Neither Dubai nor Singapore observe Daylight Savings Time.
The current year and the next five years will be listed. A new calendar year will be added following the termination of trading in the December contract of the current year.
Minimum Price Fluctuation
$0.01 (1) per barrel ($10.00 per contract)
Maximum Daily Price Fluctuation
The DME will publish an end of day Marker price at 1630 Singapore time (1230 Dubai Time, 0230 CST, or 0330 CDT), which coincides with the settlement of the NYMEX light sweet crude oil futures contract and other key energy markets. This settlement price is used by the Clearing House to calculate daily variation margin on all open DME Contracts. (This settlement price is identical to the underlying DME Oman Crude Oil Futures Contact).
Final Settlement Price
The Final Settlement Price for a Contract Month shall be the Marker price on the last Trading Day of the Contract Month. Trading in the front month ends on the last trading day in the front month of the DME Oman Crude Oil Futures Contract for the corresponding delivery month. The final settlement price is used for purposes of margins for cash settlement.
The DME Fee Schedule, including a cash settlement fee, is in effect as of trade date Tuesday September 2nd 2008. Please see the DME website at http://www.dubaimerc.com/trading/exchange/index.aspx for the most up to date fee schedule.