JP Morgan takes DME stake
JP Morgan has taken an undisclosed equity stake in the Dubai Mercantile Exchange (DME).
The exchange’s board issued a stake of up to 20% to strategic investors in early August. JP Morgan now joins firms such as Goldman Sachs, Morgan Stanley and Vitol as stakeholders. CME Group / Nymex, Tatweer, a member of Dubai Holding, and the Oman Investment Fund collectively hold a 75% equity stake in the exchange.
“The addition of JP Morgan to our newly extended group of shareholders continues to reflect the industry’s confidence in the DME and its value proposition,” said DME CEO Tom Leaver
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