us-banks-buy-into-dubai-mercantile-exchange

US banks buy into Dubai Mercantile Exchange

The Middle East's first futures exchange sells up to 20% of its equity to a consortium of financial and strategic investors including Goldman Sachs and Morgan Stanley.
The Dubai Mercantile Exchange DME has sold up to 20% of its equity to a combination of financial and strategic investors Goldman Sachs, Morgan Stanley, Vitol, Concord Energy, Casa Energy Trading and a Shell affiliate company.

The DME is the Middle EastÆs first futures exchange, created to provide a benchmark for sour crude crude oil that contains some impurity, typically sulphur. It is located in a financial free zone in the United Arab Emirates and authorised and regulated by the Dubai Financial Services Authority.

The Dubai-based exchange lists the world's first physically delivered Middle East sour crude oil futures contract, the Oman Crude Oil Futures Contract. In May it launched the DME Brent Crude...
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