The Saudi Tadawul Group Holding Co intends to roll out new enhancements to develop the post-trade services infrastructure, which will be the largest in the history of the Saudi capital market.
The enhancements – which will be rolled out through the group’s subsidiaries, including Saudi Exchange, Securities Clearing Center (Muqassa), and the Securities Depository Center (Edaa) – will be implemented on 3 April 2022.
These enhancements intend to provide investors with increased investment opportunities and access to a diverse range of financial instruments and new products.
In addition, these enhancement aim to develop trading and post-trade services, which would contribute to expand investor access to the Saudi capital market, as part of wider efforts to develop an advanced capital market in Saudi Arabia.
The launch of these enhancements will also enable access to new and diversified financial instruments to manage risk and benefit from market movements.
The initiative is in line with the Saudi Tadawul Group’s ongoing efforts to reduce systemic risks and enhance market efficiency that in turn reinforce its position as a globally attractive investment destination.
These enhancements are expected to have a positive impact on the operational efficiency of the group and its subsidiaries.
The Group will announce any material developments, if any, in this regard in due course, according to a stock market missive.
The Saudi Capital Market Forum 2022
The Saudi Tadawul Group has also concluded the inaugural Saudi Capital Market Forum 2022, held under the patronage of the chairman of the Capital Market Authority, Mohammed El-Kuwaiz.
The forum brought together investors, private companies, government entities, and financial institutions for a day of dialogue dedicated to advancing the Saudi capital market.
Ahead of the forum, five workshops involving 500 participants explored topics related to the capital markets industry, including direct listings, exchange traded funds, private versus public financing, Environmental Social Governance (ESG), and the derivatives market.
Seven panels debated topics from financing SMEs to economic growth and capital market; developing the Saudi capital market; creating an attractive financing and trading venue; the Saudi capital market from an international viewpoint; establishing a leading capital market infrastructure; and Saudi capital market aspirations.
Speakers included HE Mohammed El-Kuwaiz and executives from Muscat Securities Market, Bahrain Clear, Saudi Arabia’s Financial Sector Development Program, HSBC Saudi Arabia, Goldman Sachs, Citibank, Aramco, Edaa, Muqassa, the Saudi Exchange, and other prominent entities in the region.
The chairman of the Capital Market Authority, Mohammed El-Kuwaiz, said: “The Saudi capital market is set for a period of growth, with several IPOs in the pipeline. Against this backdrop, the inaugural Saudi Capital Market Forum set the stage for discussions and agreements that will further the development of the market as we increase access to investors and issuers.
“I look forward to continuing this dialogue as we create a thriving financial sector to enable and support Saudi Arabia’s Vision 2030.”
The Saudi Tadawul Group CEO, Eng Khalid Al-Hussan, said: “The inaugural Saudi Capital Market Forum starts a dialogue between issuers, investors, private companies, government entities and financial institutions, with an aim to access the capital of tomorrow as we all aspire to develop the Saudi capital market to be at par with the most advanced markets in the world.
“This forum is in line with the directives of the Financial Sector Development programme under Vision 2030, and we are pleased to see it as a platform to facilitate partnerships and shape the future of the Saudi capital market by hosting leaders across the region, in workshops and panel discussions that facilitate agreements shaping the future of the capital market in Saudi Arabia, ensuring the continuous positioning of the Saudi capital market as an attractive investment destination that facilitates the needs of all its participants.”
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