Edaa launches omnibus accounts for traded securities in Saudi market

Tadawul trading screen 

The Securities Depository Center Co. (Edaa) launched the omnibus accounts for traded securities to enhance the Saudi capital market’s attractiveness and operational efficiency for asset managers, according to Tadawul website.

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Omnibus accounts offer a powerful mechanism that introduces efficiency into transaction processing for asset managers through combining multiple investors into a single account managed by the asset manager, simplifying their investment experience.

Through this latest initiative, Edaa seeks to enhance its custody model and grant asset managers the tools they need to manage investors' assets more efficiently.