Saudi Tadawul Group acquires a strategic stake in Dubai Mercantile Exchange creating Gulf Mercantile Exchange
Saudi Tadawul Group will acquire a 32.6% stake in DME Holdings Limited, the parent company of Dubai Mercantile Exchange (DME), through the acquisition of a mix of new and existing shares, becoming the joint largest shareholder alongside CME Group.DME will be rebranded as the Gulf Mercantile Exchange to reflect its position as the key regional commodities exchange in the Middle East with global relevance.Through DME's flagship DME OQD Contract - the crude oil futures contract that generates the world's largest amount of physically delivered crude oil - physical delivery volumes reached 210 million barrels of oil in 2023, up from 181 million in 2022.The investment by Saudi Tadawul Group brings
