RIYADH: The Saudi Exchange has licensed Merrill Lynch Kingdom of Saudi Arabia to participate as a market maker for 20 listed securities on both the main trading platform and the parallel index. This move enables the organization to improve market liquidity and price efficiency in accordance with applicable legislation and procedures.
Merrill Lynch Kingdom of Saudi Arabia’s participation in market making is expected to result in more liquidity and a more efficient trading environment, hence supporting the country’s capital market development.
This decision is consistent with the Kingdom’s continued efforts to attract global financial institutions and develop its capital markets through increased transparency, efficiency, and investor trust.
Tadawul’s latest initiatives, such as the implementation of the Fixed Income Market Making Framework, demonstrate the company’s dedication to improving market liquidity and efficiency. These advances are critical to attracting both domestic and foreign investors, hence creating a more vibrant and robust capital market environment in the Kingdom.
Merrill Lynch Kingdom of Saudi Arabia will act as a market maker for Naseej International Trading Co., ensuring a minimum presence of orders of 70%, maintaining a size of SR75,000 ($19,995), adhering to a maximum spread of 0.75 percent, and a minimum value traded of 5%.
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