Saudi Tadawul Group Primes Gulf Mercantile Exchange For Growth

17 Jan 2025 Issue: 68 / 3 By: Jamie Ingram

Front month activity on the GME’s flagship Oman crude oil contract surged 20% last year. Following completion of a major investment from Saudi Arabia’s STG, the GME is now preparing to launch a series of new benchmarks to move from being a regional player to global relevance and drive forwards Vision 2030.

As the owner of Saudi Arabia’s stock exchange, the Saudi Tadawul Group (STG) is responsible for capital markets development in the kingdom, creating an environment for private sector growth and international investment in line with Vision 2030.

STG was itself listed on the Tadawul exchange following an IPO in December 2021 and has since seen rapid growth. “The IPO not only positioned us to better engage with Vision 2030 but also supported the rise of the Group from regional prominence to global relevance,” says Group Chief Strategy Officer Lee Hodgkinson tells MEES. “That the Saudi exchange is now one of the ten largest equity market in the world is testament to the alignment with the objectives of Vision 2030,” he notes. (CONTINUED - 1603 WORDS)