Tadawul launches its 2017 annual report: Expansion and Diversification

The Saudi Stock Exchange (Tadawul) launched its 2017 annual report under the theme "Expansion and Diversification" that provides a comprehensive review of the company's performance during the fiscal year ended on December 31, 2017.

The report highlights Tadawul’s performance during 2017, including being ranked as the 25th largest stock market of the World Federation of Exchanges, with a market capitalization of $451 billion at the end of the year.

Moreover, Tadawul's net income surged 543 percent year-on-year to reach SAR 129.8 million and saw a 74 percent increase in revenues, totaling SAR 545.4 million.

The report points Tadawul's role in achieving the Saudi Vision 2030, including the launching of its parallel market- Nomu, as a step to support the national economy and diversify the sources of income to support the requirements of transitioning into a global market.

It also shed light on the market's achievements that included the implementation of the Global Industry Classification Standard (GICS), rolling out the T+2 settlement cycle, introducing securities borrowing and lending and covered short-selling frameworks for the first time in the region, the spin-off of the Securities Depository Center (Edaa), and signing the post-trade agreement with NASDAQ.