MARKET INFORMATION
Tadawul Stock Exchange
http://www.tadawul.com.sa/

 

 

Trading Hours

Pre-opening session

09:30 – 10:00

Continuous Trading

10:00 – 15:00

Closing auction

15:00 - 15:20

Post-trading session

to allow orders to be cancelled or expiry dates to be changed

Time Zone

GMT+3

Trading Days

Sunday – Thursday

Trading Currency

Saudi Arabian Riyal (SAR)

 

Main Index

Tadawul All Shares Index

Reuters code

.TASI

Bloomberg code

SASEIDX

Exchange Codes

Reuters code

SE

Bloomberg code

AB

Trading ID/ Trading Requirements

CPA (Custody Portfolio Account)

Settlement Cycle

T+2

Current Index Status

MSCI EM - FTSE EM

Market Cap

USD3,011 bn
Average Daily Value Traded
YearAVG VALUE TRADED
2022 $1,836mn
2023 $1,432mn
MARKET DYNAMICS

Stock Limit
Up/Down

10%

 from previous close

Tick
Size

 

Price Range

Tick
Size

From

To

Below SAR 10

0.01

10

24.98

0.02

25

49.95

0.05

50

99.90

0.1

Above SAR 100

0.2

 

 

Board
Lot

None.

Crosses

Crossing in regular market is not permitted. However, off-market crosses allowed with certain criteria.

Off-Market
Crosses

There is a market for block trades with the following criteria:

1) The min allowed value of cross trade depends on the last 6 months ADTV of the stock

2) Price limit is the same as the regular market

Official
Closing Price

Auction matching price or the last traded price prior to auction of a trade worth SAR 15,000 or more.

For the print to be the official price, it must be at a value of at least Auction: SAR15,000 or more.

Closing
Auction

 

20 minutes auction from 15:00 till 15:20. The first 10mins is a price discovery session; where any changes are possible.

Orders can be placed at limit or at market; where market orders have priority over limit orders.

The last 10 minutes is for trading at the matching price (Trading at Last).

Iceberg
Orders

Minimum 50k shares

MARKET REGULATIONS
Foreign Ownership Restriction
Foreigners can only trade if they are registered in the market as Qualified Foreign Investors (QFI) or they can participate through swap agreements with authorized counterparties like EFG Hermes. Every QFI nin can hold a maximum of 10% of the outstanding shares of a company with the exception for the companies that are totally restricted for foreigners
Disclosure Rules
At 5% ownership or more, a public disclosure is required on the execution day. In case the investor is a board member or from the senior management then a disclosure of any sort of activity is required even if it’s below 1%
Securities Lending
Permitted (conditional)
Short selling
Permitted (conditional)
Crossing Restrictions
Allowed using Negotiated Deals Screen
Omnibus
An aggregate account can be set up by the client through their AAP (local
agent). The aggregate account can then be used for trading by any AP who has been granted authorization on the aggregate QFI NIN’s trading account. Worth noting, that for sell trades, the accounts under the aggregate account must transfer the shares to the aggregate account QFI NIN before selling re-validated)
Failing Trades
Sales : Subject to a buy-in if trade fails to settle by EOD on S.D+4. If 4 mandatory buy-in trials were not successful, Cash substitution will take place. Buy-In Penalties applied by market. Buy-in takes place on a special screen.

Purchases: Obligation is transferred to local broker account on S.D (subject to financing cost). Trade will expire (can't be settled) on S.D+8 EOD.

Purchases and Sales trades are subject to cash compensation starting S.D (T+2)
MARKET FEES & TAXES
CMA fees 3 bps (no VAT)
Exchange Fees 1.5 bps + 15% VAT
Muqassa (Clearing) 0.5 bps + 15% VAT
Capital Gain Tax None
Withholding Tax None
Dividend Tax 5% on non-Saudi, non-resident investors