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Thu 26 Apr 2007 07:57 AM

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DME gets regulatory nod ahead of Oman crude launch

The Dubai Mercantile Exchange (DME) said on Thursday it received regulatory approval to operate as an exchange ahead of the launch of its Oman crude futures on June 1.

The Dubai Mercantile Exchange (DME) said on Thursday it received regulatory approval to operate as an exchange from the Dubai Financial Services Authority ahead of the launch of its Oman crude futures on June 1.

Delays in the approval process forced the DME to postpone the launch last week from the planned May 1 start date.

The DME is still awaiting approval of its contract clearing arrangement, it said in a statement.

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