SNB Capital 'market maker' for 10 TASI, Nomu stocks

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The Saudi Exchange (Tadawul) approved SNB Capital’s request to conduct market-making activities on 10 companies listed on the Main Market (TASI) and the Nomu-Parallel Market, starting June 11.

SNB Capital will be conducting market-making activities as defined in the Market-Making Regulations and the Market Making Procedures.

The TASI-listed companies are Jabal Omar Development Co., Americana Restaurants International PLC, Etihad Etisalat Co. (Mobily), Riyad Bank, and SABIC Agri-Nutrients Co. (SABIC AN).

In Nomu, the companies under coverage are Saudi Azm for Communication and information Technology Co., Gas Arabian Services Co. (GAS), Neft Alsharq Co., Watani Iron Steel Co. (Watani Steel), and Al-Modawat Specialized Medical Co.

For Jabal Omar, Riyad Bank and SABIC AN, market-making obligations include maintaining an 80% minimum order presence, a SAR 250,000 minimum order size, a 0.65% price spread cap, and a 5% minimum value traded.

For Americana, market-making obligations include maintaining a 60% minimum order presence, a SAR 250,000 minimum order size, a 1% price spread cap, and a 5% minimum value traded.

For Mobily, market-making obligations include maintaining an 70% minimum order presence, a SAR 250,000 minimum order size, a 0.75% price spread cap, and a 5% minimum value traded.

For Nomu-listed Saudi Azm, GAS, Neft Alsharq, Watani Steel, and Al-Modawat, market-making obligations include maintaining a 50% minimum order presence, a SAR 50,000 minimum order size, and a 0.5% price spread cap. A minimum traded threshold is not applicable.