Tadawul approves Merrill Lynch as market maker for flynas, BAAN

Logo of Saudi Exchange (Tadawul) 

The Saudi Exchange (Tadawul) approved Merrill Lynch KSA’s request to conduct market-making activities on flynas Co. (4264) and BAAN Holding Group Co. (1820), starting Sept. 4.

In a statement to Tadawul, the company said the market maker’s obligations will be as follows:

First: flynas (4264):

- Minimum presence of orders: 80%

- Minimum size: SAR 250,000

- Maximum spread: 0.65%

- Minimum value traded: ≥5%

Second: BAAN (1820):

- Minimum presence of orders: 50%

- Minimum size: SAR 150,000

- Maximum spread: 2%

- Minimum value traded: N/A

It added that Merrill Lynch KSA will conduct market-making activities in accordance with the applicable market regulations and procedures.