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27-06-22
Saudi Arabia’s share exchange starts futures trading in July 4th
(MENAFN) Saudi Arabia’s share exchange is going to start futures trading on single stocks as of the 4th of July, after works to boost liquidity and lure financiers into the district’s largest bourse.
The initial tranche of the futures contracts is going to contain Al Rajhi Bank, Saudi Aramco, Saudi National Bank, Alinma Bank, SABIC, Saudi Kayan, Saudi Telecom Co., Saudi Electricity Co., Almarai, as well as Ma’aden.
A single-stock future is a type of futures agreement among two sides to trade a certain number of shares in a firm for a cost settled today with delivery happening at a specified future date.
The move is going to “enable local and international investors to hedge and manage portfolio risks more effectively as well as diversify products available for trading and hedging in the market,” Tadawul stated in an announcement.
Mohammed Al Suwayed, chief executive of Razeen Capital, told Arab News “This development is excellent and will add more flavor to market speculation and hedging strategies.”
MENAFN27062022000045014228ID1104438064
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