Tadawul has approved Morgan Stanley Saudi Arabia to serve as a market maker for eight securities on both the main market and Nomu (the parallel market), aiming to boost liquidity and enhance price efficiency.
📌 Key Market Making Responsibilities
On the main index, Morgan Stanley will provide liquidity for:
- Arabian Internet & Communications Services Co. (80% minimum order presence, SR150,000 size, 0.65% max spread).
- Electrical Industries Co. (80% minimum order presence, SR75,000 size, 0.65% max spread).
- Elm Co. (same requirements as Electrical Industries Co.).
- The Co. for Cooperative Insurance (80% minimum order presence, SR150,000 size, 0.65% max spread).
On Nomu, it will act as a market maker for:
- National Environmental Recycling Co.
- International Human Resources Co.
- Almuneef Co. for Trade, Industry, Agriculture, and Contracting
- Aqaseem Factory for Chemicals and Plastics Co.
(All requiring 50% order presence, SR50,000 size, and a 5% max spread).
📈 Strengthening Saudi Arabia’s Capital Market
This move is expected to increase liquidity and support a more efficient trading environment.
🔹 Morgan Stanley’s Expanding Presence
- Approved in November to establish its regional headquarters in Saudi Arabia.
- Benefits from tax exemptions and incentives under the regional headquarters program.
- Entered the Saudi market in 2007 and launched an equity fund in 2009.
This step further aligns with Saudi Arabia’s goal of attracting global investment and developing its capital markets.