Morgan Stanley named market maker for SVCP, Alandalus

Logo of The Saudi Exchange (Tadawul) 

The Saudi Exchange (Tadawul) approved Morgan Stanley Saudi Arabia’s request to conduct market-making activities on Saudi Vitrified Clay Pipes Co. (2360) and Alandalus Property Co. (4320), starting Feb. 19.

For both SVCP and Alandalus, requirements are a 50% order presence, a SAR 50,000 minimum size, and a 2% spread cap, with no applicable minimum value threshold.

Tadawul noted that Morgan Stanley Saudi Arabia is committed to adhere to the established market-making rules and procedures.