The rebrand of the Dubai Mercantile Exchange (DME) as the Gulf Mercantile Exchange (GME) was completed on 2 September, following July’s completion of a $28.5mn investment from Saudi Tadawul Group (STG), which sees the operator of Saudi Arabia’s sole stock exchange become the joint largest shareholder alongside Chicago’s CME Group on 32.6%.
The investment will facilitate GME launching derivatives contracts in a range of other commodities across the region, with the firm referencing potential opportunities in energy, metals and agriculture (MEES, 5 July). (CONTINUED - 146 WORDS)