Dubai Mercantile Exchange Announces Name Change to Gulf Mercantile Exchange Following Strategic Partnership with Saudi Tadawul Group

Press release

Published July 10th, 2024 - 08:41 GMT

Dubai Mercantile Exchange Announces Name Change to Gulf Mercantile Exchange Following Strategic Partnership with Saudi Tadawul Group

Dubai Mercantile Exchange (DME) is thrilled to announce that it will officially change its name to Gulf Mercantile Exchange (GME) effective September 2, 2024. This strategic rebranding follows the recent addition of Saudi Tadawul Group (STG) as a new strategic shareholder, marking a significant milestone in the Exchange’s growth and regional yet global expansion.
The new brand, Gulf Mercantile Exchange, better reflects the Exchange’s broadened vision and commitment to serving the entire Gulf region's energy and commodities markets. This rebranding aligns with the company’s mission to enhance market access and provide diverse trading opportunities for customers around the globe.
“We are excited to announce our new name, Gulf Mercantile Exchange, which signifies our dedication to broadening our reach and impact across the Gulf region,” said Raid Al-Salami, Managing director, Dubai Mercantile Exchange. “The addition of Saudi Tadawul Group as a strategic shareholder strengthens our position and supports our vision for future growth and innovation.”

Background Information

Dubai Mercantile Exchange

The Dubai Mercantile Exchange Limited (DME) is the premier international energy futures and commodities exchange in the Middle East, providing a financially secure, well-regulated and transparent trading environment.

The DME is majority owned by core shareholders Tatweer (a subsidiary of Dubai Holding), Oman Investment Fund and CME Group. Global financial institutions and energy trading firms such as Goldman Sachs, J.P. Morgan, Morgan Stanley, Shell, Vitol and Concord Energy have taken equity stakes in the DME, providing the exchange with a resounding vote of confidence by major players in global energy markets.

The DME is a fully electronic exchange, and its contracts are listed on the CME Globex platform, the world’s leading electronic trading platform, providing access to the broadest array of futures and options products available on any exchange. The DME is regulated by the Dubai Financial Services Authority (DFSA) and all trades executed on the exchange are cleared through and guaranteed by NYMEX (a member of CME Group), which is regulated by the U.S. Commodity Futures Trading Commission (CFTC) and is a recognized body by the DFSA.