DME introduces Alternative Crude Ecosystem – GulfToday

SourceGulf Today
SectorOil & Gas

Picture used for illustrative purpose. Dubai Mercantile Exchange (DME), on Monday announced the launch of Alternative Crude Ecosystem (ACE) - a new bilateral trading platform to enable participants to trade multiple crude grades through the exchange. DME, which is based in Dubai International Financial Centre (DIFC), will make the platform available for all participants and will offer traders the opportunity to trade bilateral barrels of Dubai, Upper Zakum, Murban, Basrah Light, Basrah Heavy, Al Shaheen and Oman versus the DME Oman Sour Crude Benchmark futures. This new functionality allows Middle East Crude participants a way to execute multiple Over the Counter (OTC) crude grades as differentials against DME Oman futures. The new service offered by DME will shed the light on the growing importance and the status of DME Oman as a strong and reliable Benchmark for the Middle East, representing consistent fair value for Sour Crude more...