Morgan Stanley named market maker for Raoom, Americana

Logo of The Saudi Exchange (Tadawul)

The Saudi Exchange (Tadawul) approved Morgan Stanley’s request to conduct market-making activities on Raoom Trading Co. and Americana Restaurants International PLC, starting, Sep. 9.

In a statement today, Sept. 8, Tadawul said that market-making activities will be carried out by Morgan Stanley, as outlined in the market-making rules and procedures, noting that the market maker’s obligations will be as follows:

 First: Raoom:

 - Minimum presence of orders: 70%

 - Minimum size: SAR 50,000

 - Maximum spread: 0.75%

 - Minimum value traded: ≥5%

Second: Americana:

 - Minimum presence of orders: 50%

 - Minimum size: SAR 250,000

 - Maximum spread: 2%

 - Minimum value traded: N/A