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US tightens rules for Dubai exchange
- United Arab Emirates: Tuesday, July 08 - 2008 at 10:24
US regulators have imposed new trading conditions on certain Dubai Mercantile Exchange contracts as part of an effort to limit excess speculation in futures markets, reported Bloomberg. The Commodity Futures Trading Commission has amended a letter that gave the exchange permission to offer electronic trading in the US. The Dubai exchange, a joint venture with the New York Mercantile Exchange, is considering whether to begin trading of a contract for West Texas Intermediate oil. The Dubai Mercantile Exchange will have to provide more data about traders and adopt US position limits if it wants access to US customers.
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Jeff Florian, Senior ReporterTuesday, July 08 - 2008 at 10:24 UAE local time (GMT+4)
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