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Saudi bourse Tadawul officially launches derivatives market

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RIYADH: The Saudi Stock Exchange (TADAWUL) launched the kingdom’s very first exchange-traded derivatives market and even clearing house on On the, as part of its strategy to produce its equity markets more pleasing to foreign investors.

Using Nasdaq technology, the Saudi Futures 30 (SF30) Directory Futures Contract is based on often the MSCI Tadawul 30 (MT30), the first exchange-traded derivatives merchandise.

“This is a significant part of introducing sophisticated market providers creating a trading environment that may be attractive to local as well as global investors,” mentioned Tadawul CEO Khalid Alhussan.

In a separate statement it said Goldman Sachs Saudi Arabic has become a member of Tadawul with the obligation to conduct brokerage expert services for derivatives trading also to deal as a principal as an agent for the new market launch.

Saudi authorities have got introduced a raft involving reforms to attract overseas promote buyers and issuers included in efforts to lure unusual capital and diversify often the oil-dependent economy.

In 2019, the Saudi market signed up with the FTSE Emerging Almost all Cap Index and the MSCI Emerging Markets Index, activating more foreign fund inflows.

In July, Tadawul authorities said the bourse ideas to launch other derivatives-related products, such as options, and also the whole system by surrounding the end of 2021 and also the start of 2022.

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