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.
DME gets regulatory nod ahead of Oman crude launch
By Reuters
Thu 26 Apr 2007 07:57 AM

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.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.