Dubai-Mubasher: Dubai Mercantile Exchange ( DME ) gave the green light for Natixis to issue Letters of Credit (LCs) for trading on the exchange directly from Singapore.
Natixis, the international corporate, investment, insurance and financial services arm of Groupe BPCE, will issue LCs on behalf of its clients to guarantee deliveries of Oman Blend crude oil through the DME.
"With the entry of Natixis, we now have the support of a major financial institution operating in Singapore to make it easier for our mutual clients to trade on the DME ," said Owain Johnson, DME’s managing director.
