CME Group and Oman Investment Fund will increase their respective investments in Dubai Mercantile Exchange (DME), most notably with CME doubling its stake in the bourse.
The move is the latest by CME to increase global access to key products and is indicative of its strategy of acquiring stakes in emerging market exchanges, many of whom move some trading onto the Globex platform as part of the deal.
CME has stakes in a variety of international markets, including commercial agreements with BM&F Bovespa, Bursa Malaysia Derivatives and MexDer.
Energy futures in the Middle East have not yet captured market share from the existing benchmark futures available for Brent and US crude oil, unusual for a derivative traded so close to the point of...