The new connection will provide CQG customers with market data and order routing access for DME products. The DME will offer price transparency and market liquidity for Middle East sour crude oil from the worldâs foremost oil producing and exporting region. Upon its debut, the DME will list the physically deliverable Oman Crude Oil Futures Contract, and two financially settled futures contracts, the Brent-Oman Spread, and the WTI-Oman Spread.
Traders can place orders using CQG Integrated Client and CQG Trader and can use a new API to bring CQG data and functionality into their own applications.
Connectivity to the DME complements CQGâs energy product offering for traders. The move builds upon CQGâs recent success in providing access to electronic energy markets in New York.
âWe are pleased to support the rollout of the DMEâs exciting new Oman Crude Oil Futures Contract and other energy products to be offered by the Exchange. As the energy markets move rapidly to electronic trading, many traders have realized that the combined value of CQGâs world class analytics and high performance order routing gateways gives them an edge,â said Josef Schroeter, CQGâs president. âCQG is proud to be the first vendor to complete certification for the DME direct platform.â
Gary King, Chief Executive of the DME, said: âWe are delighted that CQG is the first ISV to complete certification to our match engine, DME Direct, and will provide their customers access to the DMEâs markets. CQG has a broad client base and has written to a growing roster of Exchanges and we are proud to be associated with them. This is an exciting time at the DME as we approach our launch. Strong progress continues to made on every front and we look forward to a successful launch on 1 May 2007.â
The DME is the newest exchange on CQGâs growing list of tradeable markets. Customers already have access to energy products from exchanges worldwide, including CBOT, CME/Globex, NYMEX, and NYBOT/ICE.