DFM and Dubai Mercantile Exchange partner to develop energy-related financial products - The National
The Dubai Financial Market and Dubai Mercantile Exchange signed an agreement on Tuesday to jointly create financial products, particularly those that allow retail investors to tap into the GCC's oil industry. Both the exchanges will create a working group to develop investment opportunities related to the GCC's crude oil industry, the DFM said in a statement. The Dubai bourse also plans to launch a retail product derived from the Oman Crude Oil Futures, a benchmark that trades on DME and is used by many Gulf producers to price their oil. The deal with DME will seek to introduce investment opportunities for retail investors in particular, said Hamed Ali, chief executive of DFM and Nasdaq Dubai. "The agreement underlines the two exchanges' commitment to identify synergies and potential opportunities, which ultimately strengthens Dubai's position as a capital markets hub, in line with the leadership's vision and the strategic plan to develop financial markets in D...