Dubai: The Dubai Mercantile Exchange (DME) said it has signed a memorandum of understanding (MoU) with the Bombay Stock Exchange (BSE) to explore ways in maximising the potential of the commodities market in India.

The strategic partnership, which comes on the heels of the BSE’s launch of its commodities derivatives trading platform on October 1, will help create a resourceful commodities derivatives market to facilitate tremendous growth in the country’s energy sector, the exchange said in a statement.

Raid Al Salami, head of the DME, said: “We will leverage our expertise in facilitating energy futures and commodities trading to enable [the] BSE to further promote its new trading platform for commodities derivates and better serve the needs and interests of the domestic derivatives market.”