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…
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