Riyadh - Mubasher: Saudi Exchange (Tadawul) has announced its approval of Albilad Capital’s request to conduct market-making activities for three exchange-traded funds (ETFs) under the exchange’s market-making framework.
The mandate, which commences on 21 September, covers the Albilad Saudi Sovereign Sukuk ETF, the Albilad MSCI Saudi Growth ETF, and the Albilad MSCI Saudi Equity ETF.
Under the terms of the agreement, Albilad Capital must adhere to specific performance obligations for all three funds to ensure liquidity.
These requirements include maintaining a minimum presence of orders for at least 80% of the trading session. Furthermore, the market maker is committed to a minimum order size of SAR 50,000 and must maintain a maximum price spread of 2%.
The market-making activities will be conducted in accordance with the regulations and procedures set by Tadawul.
This move is part of ongoing efforts to enhance trading efficiency and provide greater depth for the Kingdom's growing ETF market.
Albilad Capital will execute its responsibilities as defined in the established market-making framework for these specific securities.
