The Saudi Stock Exchange (Tadawul) launches new order driven Sukuk and Bonds market

The Saudi Stock Exchange (Tadawul) launches new order driven Sukuk and Bonds market

The Saudi Stock Exchange (Tadawul) successfully launched a new order driven Sukuk and Bonds market on Saturday the 13th of June, 2009. The new Market provides services for Sukuk and Bond issuers, and for brokers and investors, including: listing; order submission; trade execution; clearing & settlement; and price and information dissemination. The market started with listing of corporate Sukuk issues but is designed to trade other types of Sukuk and bonds including government issues.

The market enables investors to diversify their investments beyond equities by buying and selling Sukuk and Bonds through existing brokerage firms, and by using the same account portfolio that is used for trading equities.

The trading hours for the Sukuk and Bonds market will be from 11:30 am until 3:00 pm, Settlement cycle will be T+2.