Saudi Exchange in final stages to unveil first dual listing, derivatives to begin trading in H2 2021

Mohammed Al-Rumaih, CEO of Saudi Exchange

The Saudi Exchange is in the final stages to announce the first dual listing in coordination with a regional market, CEO Mohammed Al-Rumaih, told Argaam in an exclusive.

This strategic move is important for Tadawul, as it reinforces the bourse’s position as an advanced market and allows operational expansion.

In response to a question on the 30 new requests received for share listing in the Saudi market, Al-Rumaih noted that the number of these requests could rise throughout the year.

“Everyone is optimistic about the new listings that will take place this year, which will be much higher than those of 2020,” he noted.

Four companies received a green light to list on Nomu Parallel Market. The new listings are expected to be finalized in the next quarter. Moreover, trading in derivatives will begin in the second half of the year.

“We will continue our efficient market operations, to ensure system integrity and the maximum benefit for market participants,” Al-Rumaih affirmed.

Elsewhere, Al-Rumaih said that fees are essential for all markets, as these financial resources help markets develop their operations. “However, this definitely does not mean that we are going to raise our fees to an unattractive level. There is balance between services and cost,” he explained.

Comparing service fees in similar regional or emerging markets, Tadawul always offers services at lower rates and competitive costs, which is evident by the commissions received by it, Al-Rumaih concluded.