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Thu 17 May 2007 02:11 AM

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DME gets launch approval

DME has received approval from local and foreign regulators for commercial launch.

Dubai Mercantile Exchange Limited (DME) announced it has obtained approval from local and foreign regulators for its commercial launch, according to Gulf News today.

A joint venture between Tatweer, a member of Dubai Holding, and the New York Mercantile Exchange Inc (Nymex), DME said it had received ‘no objection’ notifications from the Securities and Commodities Authority (Esca), the Rahoitustarkastus Finansinpektionen of Finland (in charge of financial supervision), the China Securities Regulatory Commission and the Central Bank of Lebanon.

The DME was recently granted an Authorised Market Institution (AMI) licence by the Dubai Financial Services Authority, which also recognised the New York Mercantile Exchange to operate a clearing house in the Dubai International Financial Centre (DIFC), where the DME is based.

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