Tadawul approves Merrill Lynch as market maker for AMAK

Logo of Al Masane Al Kobra Mining Co. (AMAK)

The Saudi Exchange (Tadawul) approved Merrill Lynch KSA’s request to conduct market-making activities on Al Masane Al Kobra Mining Co. (AMAK) (1322), effective Feb. 4.

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

- Minimum presence of orders: 80%

- Minimum size: SAR 75,000

- Maximum spread: 0.65%

- Minimum value traded: ≥5%

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