Goldman Sachs and Morgan Stanley, two of the biggest commodities trading houses, have bought stakes in the Dubai Mercantile Exchange, the Gulf-based energy futures market, in an effort to tap the region's oil-fuelled growth.

The exchange sold a combined 20% stake by issuing new stock to a group of six investors, which included the two US investment banks, three energy trading firms and a subsidiary of oil giant Shell, the DME said in a statement. The terms of the deals were not disclosed.