Dubai Financial Market to start trading Oman crude oil futures from June

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

The contract will allow investors to take advantage of rising or falling oil prices, diversify their portfolios and access leverage to maximize portfolio size and potential returns. The contracts will be settled in cash 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 commercial members of DFM, in particular; 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 result 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 largest and most important asset class. relevant to 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 global customers and other DFM business members.

Read: HSBC becomes the first international general clearing member in the Dubai financial market

Dubai Financial Market Company posts 17% increase in net profit to Dhs 27.5 million for the first quarter of the year, ending March 31, 2022, from Dhs 23.4 million recorded during the period corresponding to 2021. The company’s total consolidated revenue jumped 7% to Dhs 78.6 million in the first quarter of 2022 from Dhs 73.4 million in the first quarter of 2021.

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