A. The contract size is 1,000 barrels.
A. The current year and the next five years. A new calendar year will be added following the termination of trading in the December contract of the current year.
A. A daily Oman Marker Price is published by the DME for the DME Oman Crude Oil Futures Contract (OQD) at 1630 Singapore time (1230 Dubai Time, 0230 CST or 0330 CDT), which is the current close of the Singapore cash market.
This price is used in the monthly formula to calculate the official OSP for Oman Crude Oil term sales for that delivery month.
A. All delivery matching is undertaken by CME Clearing, based on Clearing House notices of intention to receive or deliver crude oil. For more details, please refer to the procedures for physical delivery mechanism in the DME Rulebook Chapter 10.
A. Yes. Once ADP is submitted to, and confirmed by CME Clearing, the seller can mutually agree with the buyer to deliver other Middle East crude grades that reflect a legitimate price linkage to DME Oman Crude.