The Dubai Diamond Exchange (DDE) was established in 2004 to facilitate the development of the diamond and coloured gems market.[10] Dubai ranks third behind Antwerp and Mumbai in the leading global diamond hubs in terms of trade, growing from $300 million (Dh1.10 billion) in trade in 2002 to $26 billion in 2016.[11] The Dubai Pearl Exchange (DPE) provides facilities for traders in pearls and holds events like the World Pearl Forum.