RBS to issue letters of credit for DME

The approval reflects the DME and RBS’ joint commitment to facilitate the trading activities of their mutual customers in Asia. RBS will be able to issue letters of credit directly from Singapore to guarantee deliveries of Oman Blend crude oil through the DME, helping to create a more efficient and cost-effective trading ecosystem around the Exchange. Previously, all DME letters of credit had to be issued via an entity in the US.