Fastmarkets, a leading cross-commodity price-reporting agency, announced a strategic partnership with Gulf Mercantile Exchange Limited (GME).

Fastmarkets and the GME have agreed a Memorandum of Understanding (MoU) to explore a strategic partnership aimed at enhancing risk management tools for the regional commodities market.

This collaboration will focus on critical commodities and aims to advance commodity risk management, market transparency and educational initiatives.

The GME and Fastmarkets will explore collaboration across areas including new commodity derivatives, indices and hedging instruments tailored to meet the needs of regional markets.

Additionally, the collaboration will focus on promoting education and fostering industry dialogue by organising and co-hosting networking events, seminars and workshops on commodity trading, risk management and pricing strategies.

The region is expanding rapidly due to increased investment in infrastructure and diversification of the economy, positioning Fastmarkets as the trusted provider to deliver the essential tools and insights needed to navigate this growth effectively.

Ahmad Sharaf, Chairman of GME, said, “We are excited to partner with Fastmarkets to bring innovative solutions to the regional commodities market.”

Fastmarkets is at the forefront of innovation, consistently delivering comprehensive solutions that address the evolving needs of the commodities industry, ensuring customers have reliable data and tools for informed decision-making. Through its commitment to regional support, Fastmarkets is driving growth and expansion, fostering a resilient commodities market that meets local demand and opens up new avenues for economic development and trade.

Raju Daswani, CEO of Fastmarkets, added, "This partnership represents a significant step forward in supporting the growth and development of the regional commodities market. We look forward to working together to achieve our shared goals and deliver value to our stakeholders."