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US CME raises stake in Dubai's DME to 50%  Join our daily free Newsletter

MENAFN - 22/02/2012

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(MENAFN) CME Group's COO and Managing Director of Products and Services, Bryan Durkin, said that the US firm increased its stake in the Dubai Mercantile Exchange (DME) to 50 percent, reported Gulf News.

Durkin added that the step came as the biggest US derivatives exchange operator planned to set up a new crude oil futures benchmark for the Middle East and Asia.

On the other hand, Oman Investment Fund, which has been a main partner of the DME, also increased its stake in DME to 29 percent.

It is worth noting that DME Oman is already the exclusive benchmark for Dubai and Oman crude, the two primary markers for east of Suez markets.

 






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