Dubai Mercantile Exchange becomes GME

The energy exchange that owns the Oman crude benchmark dropped the Dubai Mercantile Exchange name and took the Gulf Mercantile Exchange identity, trading as GME. The change followed Saudi Tadawul Group buying into DME Holdings and was framed around widening the exchange beyond oil into agricultural commodities and next-generation derivatives contracts.

The brief

Traders and investors in Gulf energy markets, after Saudi Tadawul Group became a joint largest shareholder.

The idea

Following Tadawul's 32.6 percent stake, the exchange dropped the Dubai name for Gulf Mercantile Exchange, GME, framing a move beyond oil into agricultural and newer derivatives contracts.

What to borrow

A regional name in place of a city name signals a wider shareholder base and wider ambitions.