The Dubai Mercantile Exchange (DME) aims to revitalize its Oman crude futures contract by attracting major consumers and Middle East banks, rather than national oil company (NOC) producers in the region, its new
chief executive said.
Top U.S. futures exchange CME Group Inc doubled its stake in DME in February. Sources in the industry have said that it is unhappy with the slow progress of the flagship Oman contract.
"I want to take the DME on a totally different direction in terms of the focused approach on NOCs. Obviously, we will always be interested in having discussions with them but they are not our primary focus at the moment," Christopher Fix said in an interview.
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