By Shaji Mathew
Nov. 10 (Bloomberg) -- Dubai Mercantile Exchange, the Gulf sheikdom's venture with Nymex Holdings Inc., will start trading two Oman oil futures contracts on CME Group Inc.'s Globex electronic platform in the first quarter of 2009.
The Oman Crude Oil Futures Contract will join West Texas Intermediate and Brent crude contracts on the Globex platform at CME, the world's largest futures market, the companies said today in a joint statement. Dubai Mercantile will also trade its Oman Crude Oil Financial Contract on Globex.
Dubai Mercantile is a venture of Nymex, Dubai Holding LLC and the Oman Investment Fund, which have stakes of 25 percent each. The rest is held by companies including JPMorgan Chase & Co., Goldman Sachs Group Inc, Morgan Stanley, Vitol Group and Royal Dutch Shell Plc.
The bourse has traded future contracts based on sour crude oil from Oman since June 2007. It offered financial contracts this year for Brent and Oman crude.
To contact the reporter on this story: Shaji Mathew in Dubai at shajimathew@bloomberg.net
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