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MSCI, Tadawul to launch joint traceable index for investors in Saudi Arabia in Q4 2018.

BANKING AND CREDIT NEWS-September 11, 2018-MSCI, Tadawul to launch joint traceable index for investors in Saudi Arabia in Q4 2018

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MSCI Inc. (NYSE:MSCI) has announced it has signed an agreement with the Saudi Stock Exchange Co. (Tadawul) to create a joint tradeable index that can serve as the basis for investment instruments including derivatives and ETFs, the company said.

In June 2018, MSCI announced the classification of the Saudi Arabian equity market as an Emerging Market as part of their annual global market classification review. The Index will be based on the broader MSCI Saudi Arabia index series that will be part of the MSCI Emerging Markets Index. The joint tradeable index will be available in Q4 2018.

MSCI is a provider of indexes and portfolio construction and risk management tools and services for global investors,

Tadawul is the sole entity authorized in the Kingdom of Saudi Arabia to act as the Kingdom's securities exchange, listing and trading in securities. The Saudi stock market is the 23rd largest stock market among the 67 members of the World Federation of Exchanges and is the dominant market in the Gulf Cooperation Council (GCC) comprising 50 percent of total GCC market capitalization and 79 percent of value traded.

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Publication:M2 Banking & Credit News (BCN)
Date:Sep 11, 2018
Words:225
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