aiki14
05-20-2008, 09:27 PM
The DGCX is going to start trading WTI and BRC futures next tuesday, that puts a trading floor in the heart of the folks most likely to want to see it trade up. Here's the story from Oil Online www.oilonline.com which if you are playing in this space should be in your bookmarks.
DGCX to launch cash settled WTI and Brent Crude Oil Futures
by: OilOnline
Tuesday, May 20, 2008
Dubai Gold and Commodities Exchange (DGCX) has announced the launch of both West Texas Intermediate Light Sweet Crude (DWTI) Oil and Brent Crude Oil (DBRC) futures contracts available for trading from Tuesday 27th May.
The launch of both WTI and Brent Crude Oil futures on DGCX makes the world's two most significant crude oil benchmarks available to both regional and international market participants, allowing them to benefit from trading and clearing transactions under the UAE regulatory and taxation regimes.
Commenting on the launch Malcolm Wall Morris CEO, DGCX said, "Since the start of trading in November 2005, DGCX has demonstrated, under the regulatory guidance and support of the Securities and Commodities Authority (SCA), the existence of large liquidity pools in the Middle East and the growing need of market participants to access viable risk management and investment tools. This combined with the increased recognition from our international clients of the benefits of transacting and clearing business from within the UAE, makes our offering of WTI and Brent Crude Oil contracts an extremely attractive proposition."
Ahmed bin Sulayem, Chairman, DGCX said, "Making the world's crude oil benchmarks available directly to the world's premier oil producing region and allowing regional participants to maintain business within the Middle East has benefit beyond measure."
A fee waiver will be in place for the DBRC and DWTI Crude futures contracts from launch through to 26th August 2008.
The DGCX WTI and Brent Crude Oil futures contracts will trade from 08:30 a.m. to 11:30 p.m. local Dubai time or from 04:30 a.m. through 07:30 p.m. GMT or from 00:30 am through 03:30pm Eastern time. Each DGCX crude oil futures contract is sized at 1,000 barrels, with the contract price quoted in U.S. dollars and cents per barrel. The minimum price fluctuation will be one cent per barrel, equivalent to a tick value of $10.00.
DGCX to launch cash settled WTI and Brent Crude Oil Futures
by: OilOnline
Tuesday, May 20, 2008
Dubai Gold and Commodities Exchange (DGCX) has announced the launch of both West Texas Intermediate Light Sweet Crude (DWTI) Oil and Brent Crude Oil (DBRC) futures contracts available for trading from Tuesday 27th May.
The launch of both WTI and Brent Crude Oil futures on DGCX makes the world's two most significant crude oil benchmarks available to both regional and international market participants, allowing them to benefit from trading and clearing transactions under the UAE regulatory and taxation regimes.
Commenting on the launch Malcolm Wall Morris CEO, DGCX said, "Since the start of trading in November 2005, DGCX has demonstrated, under the regulatory guidance and support of the Securities and Commodities Authority (SCA), the existence of large liquidity pools in the Middle East and the growing need of market participants to access viable risk management and investment tools. This combined with the increased recognition from our international clients of the benefits of transacting and clearing business from within the UAE, makes our offering of WTI and Brent Crude Oil contracts an extremely attractive proposition."
Ahmed bin Sulayem, Chairman, DGCX said, "Making the world's crude oil benchmarks available directly to the world's premier oil producing region and allowing regional participants to maintain business within the Middle East has benefit beyond measure."
A fee waiver will be in place for the DBRC and DWTI Crude futures contracts from launch through to 26th August 2008.
The DGCX WTI and Brent Crude Oil futures contracts will trade from 08:30 a.m. to 11:30 p.m. local Dubai time or from 04:30 a.m. through 07:30 p.m. GMT or from 00:30 am through 03:30pm Eastern time. Each DGCX crude oil futures contract is sized at 1,000 barrels, with the contract price quoted in U.S. dollars and cents per barrel. The minimum price fluctuation will be one cent per barrel, equivalent to a tick value of $10.00.