Dubai Mercantile Exchange
revises Launch Program
Dubai – 19 April, 2007: The Dubai Mercantile
Exchange Limited (DME), a joint venture between the New
York Mercantile Exchange, Inc (NYMEX) and Tatweer, a
member of Dubai Holding, today announced that it has
decided to revise the launch date of the DME to June 1,
2007, subject to regulatory approvals of its clearing
arrangement.
Launching an international commodity exchange in the
Middle East and a new sour crude oil benchmark is
unprecedented as well as extremely challenging. The
regulatory, technical and commercial aspects that need
to be conceived, considered and acted upon to ensure
that the DME succeeds, are necessarily complex and it is
essential that absolutely everything is in place when
the exchange goes live.
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