Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Tue January 10, 2012 12:09 pm
UAE. CME Group Inc. (CME), the world’s largest futures exchange owner, is set to increase its holding in the Dubai Mercantile Exchange, according to Ahmad Sharaf, Chairman of the Dubai-based oil bourse.
The DME plans to raise money by offering more shares to existing investors this year, Sharaf said while attending a conference in Abu Dhabi today. The current roster of shareholders, which includes CME, a Dubai investment fund and the state of Oman, will remain the same, with only the size of their stakes changing, he said.
“The CME wants to expand its presence in the DME,” Sharaf said. He declined to give details on the timing or the size of the capital increase.
CME offers clearing services for trades done on the DME and supports swaps and options contracts that are based on the Dubai exchange’s main Oman oil futures contract.
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