CME Group and Oman Investment Fund to increase investments in DME

Dubai: The CME Group, the world's leading and most diverse derivatives marketplace, and Oman Investment Fund, a sovereign wealth fund of the Sultanate of Oman, on Tuesday announced that they will increase their investments in the Dubai Mercantile Exchange.

As part of the restructuring of the DME's equity shareholding, a recapitalisation arrangement will increase the stake in DME held by CME Group's NYMEX division from 25 percent to 50 per cent.

Oman Investment Fund will increase its holding to 29 percent; a subsidiary of Dubai Holding will retain 9 per cent; and 12 percent will be held on a non-voting basis by strategic investors, including Vitol, Shell JP Morgan, Morgan Stanley, Goldman Sach and Concord Energy

Bryan Durkin, CME Group Chief Operating Officer and Managing Director, Products and Services, said: "The deepening of our relationship with DME further serves our strategy of providing risk managers and investors with access to key benchmark products via our global distribution networks. By committing CME Group's resources and know-how to DME's increasingly well-received product set, participants in the Middle East and Asia will be able to access transparent pricing and risk management products as global energy markets focus ever further eastward."