Saudi Tadawul Group Holding Co.
Saudi Tadawul Group Holding Co. plans to cancel the SAR 15,000 ceiling of normal trades to boost transparency, Al Eqtisadiah newspaper reported.
The group said it is continuously working to improve the market efficiency and explore prices.
The Saudi Exchange (Tadawul) is continuously improving the market efficiency and explore prices, the group said.
The closing price is determined through a closing auction, in a way that is similar to how the opening price is set in the opening auction.
The closing auction is a session that comes after continuous trading where investors may place orders. The trading engine will determine an equilibrium price at which all possible matching orders are executed at the end of the auction. The execution price is the closing price and becomes the next day’s reference price. It is calculated based on normal trades only (SAR 15,000 and above). If there are no trades during the auction, then the closing price is the last traded price (LTP) during the continuous trading. If there are no trades during the day, the closing price is the previous day’s closing price.
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