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.

Entity Types B/D; Bank; IA; Ins; OTC
Reference PR, 4/5/2021;
Functions Compliance; Financial; Legal; Risk; Trading; Treasury
Countries United Arab Emirates
Products Commodities; Fund Mgt; Futures; Securities
Regions EMEA
Rule Type Guidance
Rule Date 4/5/2021
Effective Date 4/5/2021
Rule Id 102066
Linked to N/A
Reg. Last Update 4/5/2021
Report Section International

Last substantive update on 04/06/2021