Tadawul Announces Significant Market Enhancements

Tadawul Announces Significant Market Enhancements

PR Newswire

RIYADH, Saudi Arabia, January 10, 2018

RIYADH, Saudi Arabia, January 10, 2018 /PRNewswire/ --

Tadawul, the Saudi Stock Exchange, today announced a series of significant measures to improve market access and efficiency, enhance liquidity, bolster investor security, mitigate risk and further align market practices with global best practices. Newly announced measures include:

     (Logo: http://mma.prnewswire.com/media/494101/Saudi_Stock_Exchange_Tadawul_Logo.jpg )

The changes to the ICM and introduction of the option for Asset Managers to aggregate orders are set to be implemented effective January 21, 2018. The changes to the methods for determining opening and closing prices and introduction of the Market Making program are scheduled to be implemented by the second quarter of 2018.

"The cumulative impact of these measures will be a more efficient, liquid and secure market for investors and intermediaries that is further aligned to international best practices," said Khalid Abdullah Al Hussan, Chief Executive Officer of Tadawul. "This next generation of market improvements builds on and augments the reforms already successfully implemented by Tadawul in 2017 to improve market function, protect investors and further consolidate Tadawul's position as the leading market in the region and a global investment destination. These measures and reforms are creating a more attractive investment climate for domestic and international investors alike and have attracted more than 100 major financial institutions to open accounts in the Kingdom."

2017 was a ground-breaking year for Tadawul, which, in conjunction with the Capital Market Authority (CMA), implemented far-ranging reforms, including:

About Tadawul  

The Saudi Stock Exchange (Tadawul) is the sole entity authorized in the Kingdom of Saudi Arabia to act as the kingdom's securities exchange (the Exchange), listing and trading in securities. With a market capitalization of $450 billion, the Saudi stock market is the 25th largest stock market among 67 members of the World Federation of Exchanges and is the dominant market in the Gulf Cooperation Council (GCC) comprising 54 percent of total GCC market capitalization and 72 percent of value traded.

Tadawul Contact:
Abdullah Al-Sharif

Media Contacts:
Amy Rosenberg
Hill+Knowlton Strategies

Bobby Morse
H+K Financial

Investor Relations Contact:
Rouaa Fadl

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