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DME sells equity stake to banks, energy firms


The Dubai Mercantile Exchange sold equity stakes on Monday to Goldman Sachs, Morgan Stanley and four energy-related companies — Vitol, Concord Energy, Casa Energy Trading, and a division of Royal Dutch Shell. Thomas Leaver, CEO in waiting at the energy exchange, denied the sales was an attempt to increase liquidity and that there were no trading requirements being placed on the equity partners. “We cannot force any sort of liquidity,” said Leaver.DME chairman Ahmad Sharaf said: “The deal gives us access to some of the best minds in the world in the commodities sector,”.“Today’s...

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