UAE DIFC Alternate Crude Ecosystem
On Apr. 5, UAE DIFC reported platform to trade multiple crude grades.
- UAE DIFC-based UAE DME introduced an alternative crude ecosystem (ACE) platform.
- Bilateral trading platform to enable trading of multiple crude grades via the exchange.
- Aligns with Dubai Plan 2021 objectives in making AUE a pivotal global financial hub.
- ACE Platform
- Reported that the ACE platform will be made available for all participants by UAE DME.
- Opportunity to trade bilateral barrels of Dubai, Upper Zakum, Murban, Basrah Light, Basrah Heavy, Al Shaheen, and Oman vs. DME Oman Sour Crude Benchmark futures.
- New functionality to allow Middle East crude participants a way to execute multiple over the counter (OTC) crude grades as differentials against UAE DME Oman futures.
- Sheds light on growing importance, status of DME Oman as strong, reliable benchmark for Middle East, representing consistent fair value for sour crude barrels East of Suez.
||B/D; Bank; IA; Ins; OTC
||Compliance; Financial; Legal; Risk; Trading; Treasury
||United Arab Emirates
||Commodities; Fund Mgt; Futures; Securities
|Reg. Last Update
Last substantive update on 04/06/2021