Dubai Mercantile Exchange Welcomes Saudi Tadawul Group as New Strategic Shareholder
The Dubai Mercantile Exchange (DME) announced the completion of Saudi Tadawul Group Holding Company's strategic acquisition, positioning it as the joint largest shareholder in DME Holdings Limited. The acquisition, comprising a mix of new and existing shares, aligns Saudi Tadawul Group with CME Group at the helm of DME Holdings Limited, the parent company of DME. Other shareholders include the Oman Investment Authority, Dubai Holding, and prominent global financial and commercial leaders.
With the acquisition finalized following all necessary regulatory approvals, including from the Dubai Financial Services Authority, DME will be rebranded as the Gulf Mercantile Exchange (GME). This rebranding reflects its enhanced role as the premier regional commodities exchange in the Middle East.
The Saudi Tadawul Group's 32.6% stake in DME Holdings Limited, announced on January 18, 2024, underscores its commitment to advancing regional capital markets. The Group’s investment is poised to leverage world-class capabilities and expertise, accelerating GME’s growth as a leading regional commodities hub. Positioned strategically, GME aims to bridge the gap between key commodity production centers and end-markets, enhancing its ability to meet global commodity demand.
David Wang, Executive Director of the Board and Chairman of the ICT Infrastructure Managing Board, delivered a keynote speech titled "5G-A: Paving the Way for Shared Success." He emphasized, "5G-A will be the path forward. It will protect vested investment while creating new business opportunities by expanding business boundaries. As we look towards 2030, the industry as a whole will need to ramp up efforts to reinforce 5G-A technologies and support the healthy development of 5G."
The Saudi Tadawul Group’s acquisition supports GME’s strategic initiatives to capture demand in energy, metals, and agricultural commodity markets. Additionally, it will aid in the global transition to a sustainable economy through the introduction of next-generation derivatives contracts.
The rebranding to GME marks a significant milestone in the evolution of the exchange, reflecting its broadened scope and strengthened capabilities. This partnership promises to deliver substantial benefits, aligning the Middle East’s commodities markets with global standards and enhancing the region’s economic integration
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