RIYADH: Tadawul has licensed Morgan Stanley Saudi Arabia to act as a market maker for eight equities on the main trading platform and the parallel index, Nomu. The decision enables the financial services organization to increase market liquidity and price efficiency in accordance with regulations and procedures. Among the securities listed on the main index, the firm will act as a market maker for Arabian Internet and Communications Services Co., ensuring an 80 percent minimum presence of orders, a size of SR150,000 ($39,982), and a maximum spread of 0.65 percent, with a minimum value traded of 5 percent.
Similarly, it will supply services to Electrical Industries Co., ensuring an order presence of at least 80%, a minimum size of SR75,000, a maximum spread of 0.65%, and a value traded of 5%. Elm Co. is also among the permitted securities, with Morgan Stanley Saudi Arabia agreeing to the same trading terms as Electrical Industries Co. Meanwhile, the Co. for Cooperative Insurance will have an 80 percent order presence, a minimum size of SR150,000, a maximum spread of 0.65 percent, and a value transacted of 5 percent.
Morgan Stanley Saudi Arabia was authorized to serve as a market maker for National Environmental Recycling Co., International Human Resources Co., Aqaseem Factory for Chemicals and Plastics Co., and Almuneef Co. for Trade, Industry, Agriculture, and Contracting on Nomu.
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