Gulf Mercantile Exchange (GME), the premier international commodity exchange in the Middle East, is pleased to announce its continued growth for 2024, demonstrating robust growth across key metrics and reinforcing its position as a leading platform for commodity trading in the region. Total trading volume increased by 12% year-on-year, from 1,176,055 contracts in 2023 to 1,318,466 contracts in 2024.
Front-month contract volumes experienced an impressive 20% growth and record year, surging from 800,065 in 2023 to 959,565 in 2024.
Additionally, total physical exposure saw a significant 11% increase, underscoring GME’s commitment to enhancing market accessibility and fostering sustainable growth in the commodities sector.
Reflecting on this strong performance, Raid Al-Salami, Managing Director, GME, stated:
“Our 2024 results are a testament to the hard work of our team, the confidence of our participants, and the growing importance of GME as a trusted platform for crude oil trading. The 12% increase in total volume and the remarkable 20% growth in front-month demonstrate our ability to meet market demands effectively. GME Oman Crude Oil Futures contract is a key pricing and hedging instrument, utilized by a broad range of market participants for speculative and risk management strategies. As we continue to innovate and expand, we remain focused on creating value for our participants and contributing to the broader GCC economy.”
GME remains dedicated to delivering innovative solutions, fostering transparency, and driving growth in the commodity trading sector. The strong performance in 2024 sets the stage for further advancements in 2025 as GME continues to build on its success and expand its reach.
