The contracts, first announced in February, will trade electronically on the DME Direct system.
The exchange says that the new offerings will provide traders with tools for effecting a commonly traded over-the-counter transaction, the spread between sweet and sour crude oil benchmarks.
“The introduction of these two financially settled contracts will facilitate trading by additional market participants, broadening the global reach of the exchange and increasing its visibility throughout the industry,” says DME chairman Ahmad Sharaf.
The financial DME Brent contract will be cash-settled against Intercontinental Exchange’s Brent crude futures, while the financial Oman contract will settle against the DME’s own physical Oman contract.
The exchange has also received approval for a financially settled West Texas Intermediate (WTI) contract, which is “anticipated to be launched in due course”, according to the DME.