Singapore Launches Middle East Crude Oil Futures Contract
Singapore Exchange (SGX) on 12 November launched a dollar-priced Middle East Crude Oil (MECO) futures contract. The contracts final settlement is based on the monthly average of the daily Dubai and Oman crude oil prices assessed by Platts. The contract was launched in cooperation with the Tokyo Commodity Exchange (TOCOM), which has been successfully trading a similar Yen-denominated Middle East...
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