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Dubai: The Dubai Mercantile Exchange Limited (DME) on Tuesday announced that the exchange will start trading in its two new financially settled futures contracts for Brent and Oman crude oil in addition to its benchmark DME Oman Crude Oil Futures Contract.
The new DME Brent Crude Oil Financial Contract and DME Oman Crude Oil Financial Contract will be listed for trading on DME Direct, the Exchange's electronic trading system.
The DME Brent Crude Oil Financial Contract will be cash-settled against ICE's Brent Crude Futures Contracts, while the DME Oman Crude Oil Financial Contract will be cash-settled against the DME Oman Crude Oil Futures Contract.
"Having designed these new contracts in close consultation with our customers, we are confident that they will be a success, further enhancing overall liquidity and price transparency on the DME," said Gary King, Chief Executive Officer of the DME.
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