Saudi Exchange unveils amendments for securities to enhance market efficiency
Riyadh – The Saudi Exchange (Tadawul) has amended the structure of its minimal incremental price movement bands, known as tick size bands, for both the Main and Parallel (Nomu) Market securities, excluding debt instruments.
Tadawul is expanding the applicability of smaller tick sizes, which will enable more precise pricing and enhance overall market efficiency, according to a press release.
Increasing the applicability of smaller tick sizes will also minimize spread constraints, thereby reducing trading costs for investors.
Moreover, the amendments also include a band for securities priced at or above SAR 500.
Mohammed Al Rumaih, the CEO of the Saudi Exchange, said: "At the Saudi Exchange, we have long been committed to fostering an advanced capital market that caters to the evolving needs of investors.'
Al Rumaih elaborated: 'These enhancements to tick sizes are the result of our close engagement with market participants and ensure that the Saudi Exchange remains highly competitive and attractive to investors around the world.'
The CEO concluded: 'These changes will offer many benefits, including lower trading costs, fairer prices, and a smoother trading experience for investors.'
The new structure introduces expanding the applicability of smaller tick size bands, in addition to an additional band for securities priced at SAR 500 and above to maintain an appropriate range of spreads across price bands.
The implementation of these enhancements is part of the efforts of Saudi Tadawul Group and its subsidiaries to develop the Saudi capital market, in line with the objectives of the Financial Sector Development Program (FSDP) and reinforce its position as a globally attractive investment destination.
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