DME oil benchmarks migrate to CME platform
Dubai Mercantile Exchange (DME) and Chicago Mercantile Exchange (CME) have completed the migration of three DME crude oil benchmark products onto the CME Globex platform.
The transition means WTI, Brent and Oman can now be traded on the same platform. Clearing will continue to be processed through the Nymex clearing house until it is integrated with CME clearing.
CME Group holds a 28% stake in the DME through its acquisition of Nymex.
"The transition of DME's contracts to CME Globex represents the benefits of merging the Nymex businesses with CME Group, not only increasing the distribution of the contracts to a global set of hedgers and investors, but also opening
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