Gulf Mercantile Exchange (GME), the leading international commodity exchange in the Middle East, has announced strong growth for 2024, reinforcing its position as a key platform for commodity trading in the region.
The exchange reported a 12% increase in total trading volume, reaching 1,318,466 contracts, up from 1,176,055 contracts in 2023.
Front-month contract volumes saw an impressive 20% surge, growing from 800,065 in 2023 to a record 959,565 in 2024. This growth highlights GME's ability to meet the increasing demand for timely market access and trading opportunities. Additionally, total physical exposure rose by 11%, further emphasizing the exchange’s commitment to enhancing market accessibility and supporting sustainable growth in the commodities sector.
Raid Al-Salami, Managing Director of GME, expressed pride in the performance, stating,
"The 12% increase in total volume and the remarkable 20% growth in front-month contracts reflect our team’s dedication and the growing confidence in GME. Our Oman Crude Oil Futures contract has become a vital tool for a wide range of market participants, serving as a key pricing and hedging instrument for both speculative and risk management strategies."
Looking ahead, GME remains focused on driving innovation and transparency, with plans to continue expanding its offerings and building on its success into 2025. The continued growth of the exchange positions it as a vital contributor to the broader GCC economy.
News Source: Emirates News Agency
