DUBAI(Commodity Online): CME group and Oman Investment Fund, a sovereign wealth fund of the Sultanate of Oman, have decided to increase their investments in Dubai Mercantile Exchange to support their growing business.
DME's equity share holding will be restructured with CME Group's NYMEX increasing its stake to 50%.
Oman Investment Fund increased its holding to 29% while Dubai Holding retained 9% stake.
Bryan Durkin, CME Group Chief Operating Officer and Managing Director, Products and Services, said,” By committing CME Group's resources and know-how to DME's increasingly well-received product set, participants in the Middle East and Asia will be able to access transparent pricing and risk management products as global energy markets focus ever further eastward."
Hassan Al Nabhani, Chief Executive Officer of Oman Investment Fund, said: "DME's development into a prominent venue for price discovery will prove to be of significant strategic and financial value for the oil markets. The exchange continues to attract customers from among the key participants in the global energy industry.”
The new arrangement puts a robust plan in place to grow the business and ensure that it continues to deliver value to its customers and investors.
