The Dubai Mercantile Exchange has asked U.S. regulators to ease a key trading rule that its chief executive said is hampering efforts to develop an oil-price benchmark.
The exchange has asked the U.S. Commodity Futures Trading Commission to relax margin-calculation rules for traders on its markets, cutting trading costs for its flagship Oman Sour Crude contract.
"This would put us on a level playing field and remove the barriers to trade," said DME Chief Executive Thomas Leaver, who hopes to secure clearance this month.
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