Dubai bourse seeks new role for China banks

Dubai Mercantile Exchange (DME) is hoping to increase the participation of mainland and Asian lenders in financing trade in its Oman oil futures contract.

The commodity exchange, which offers investors the opportunity to trade its flagship DME Oman crude oil futures contract (OQD), saw an opportunity for banks in the region to provide financing for the trades after Western lenders were hit hard by the financial crisis, said DME chief executive Christopher Fix.

OQD, launched in June 2007, is used as one of the crude oil pricing benchmarks in Asia.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1220112/dubai-bourse-seeks-new-role-china-banks