DME launch delayed
The Dubai Mercantile Exchange (DME) today announced that it has delayed its launch by one month until June 1, 2007, subject to regulatory approvals of its clearing arrangement.
The exchange cites the complexity of regulatory, technical and commercial aspects of the launch as the reason for the delay. The DME was initially expected to begin trading in the fourth quarter of 2006. An announcement in February 2007 named May 1 as the official launch date, which has now also been revised.
The DME, a joint venture between Nymex and Tatweer, is the Middle East’s first commodities and energy futures exchange. The three contracts initially traded on the exchange will be the
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