Tadawul approves Merrill Lynch KSA as market maker for 13 stocks

Logo of Saudi Exchange (Tadawul)

The Saudi Exchange (Tadawul) approved Merrill Lynch KSA's request to conduct market-making activities for 13 companies listed on the Main Market (TASI) and Nomu-Parallel Market, effective Sept. 9, according to a statement.

The companies listed on TASI are Al-Rajhi Company for Cooperative Insurance (Al Rajhi Takaful), Savola Group, Retal Urban Development Co., Mobile Telecommunication Company Saudi Arabia (Zain KSA), Dr. Sulaiman Al Habib Medical Services Group, The Company for Cooperative Insurance (Tawuniya), and Arabian Centres Co.

The Nomu-listed companies are Adeer Real Estate Co., Group Five Pipe Saudi Co., First Avenue for Real Estate Development Co., Dar Almarkabah for Renting Cars Co., ASG Plastic Factory Co., and National Environmental Recycling Co.

Tadawul said Merrill Lynch KSA would comply with the applicable market-making rules and procedures.

For Al Rajhi Takaful, Savola Group, Retal, Zain KSA, Sulaiman Al Habib, and Tawuniya, the market-maker obligations include a minimum order presence of 80%, a minimum order size of SAR 75,000, a maximum price spread of 0.65%, and a minimum traded value of 5%.

For Arabian Centres, the obligations include an 80% minimum order presence, a minimum order size of SAR 75,000, and a maximum price spread of 6.5%, with no minimum traded value requirement.

For the six Nomu-listed companies, Merrill Lynch KSA will be required to maintain a minimum order presence of 50%, a minimum order size of SAR 50,000, and a maximum price spread of 5%. No minimum traded value requirement applies.