Dubai Financial Market Announces New Contract Series for Oman Crude Oil Futures

Dubai Financial Market, incorporated in the Emirate of Dubai, is a major player in the financial sector, dealing in a range of activities from trading in financial instruments to offering financial investment consultancy. The company operates the Dubai Stock Exchange and carries out investment activities on its own behalf, adhering strictly to the provisions of Islamic Shari’a. The government of Dubai, which owns 80% of DFM through Borse Dubai Limited, is the ultimate parent and controlling party of the company. The recent announcement of the new contract series for Oman Crude Oil Futures is a significant development. Identified as OIL241024001 and symbolized as OMOILZ24, the contract is referred to as the Micro DME Oman Crude Oil FUT - December 2024. This contract will be listed from 25 October 2023 and de-listed on 24 October 2024. This move by DFM signals a proactive approach towards diversification and expansion. The decision to list this new contract series could potentially attract more investors, thus increasing the liquidity of the market. However, it's important to note that the information is subject to change and should not replace the official Dubai Financial Market Regulated Derivative Contract Trading Regulation. Looking at the company's recent performance, the 3 Month Yield is at -0.23% and the 1 Month Yield is at -0.19%. These figures indicate a slightly negative short-term yield, which may be a cause for concern for some investors. However, considering the company's substantial market cap of 10,240,000,000, DFM remains a significant player in the market. Given the current situation and future prospects, the outlook for the company remains neutral. The introduction of the new contract series could potentially boost the company's performance, but the negative short-term yield and potential market volatility should also be taken into account.