Logo of Saudi Exchange (Tadawul)
The Saudi Exchange (Tadawul) approved Merrill Lynch KSA’s request to conduct market-making activities on Gulf Union Alahlia Cooperative Insurance Co., Americana Restaurants International PLC, and Rabigh Refining and Petrochemical Co. (Petro Rabigh), starting Nov. 19. 
In a statement to Tadawul, the company said the market maker’s obligations will be as follows:
First: Gulf Union Alahlia (8120):
– Minimum presence of orders: 50%
– Minimum size: SAR 50,000
– Maximum spread: 2%
– Minimum value traded: N/A
Second: Americana (6015):
– Minimum presence of orders: 50%
– Minimum size: SAR 250,000
– Maximum spread: 2%
– Minimum value traded: N/A
Third: Petro Rabigh (2380):
– Minimum presence of orders: 80%
– Minimum size: SAR 50,000
– Maximum spread: 0.65%
– Minimum value traded: ≥5%
In a separate statement, Tadawul also approved Morgan Stanley’s request to conduct market-making activities for Gulf Union Alahlia and Alwaha REIT Fund, as of Nov. 19.
The market maker’s obligations for Morgan Stanley Saudi Arabia will be as follows:
First: Gulf Union Alahlia (8120):
– Minimum presence of orders: 50%
– Minimum size: SAR 50,000
– Maximum spread: 2%
– Minimum value traded: N/A
Second: Alwaha REIT (9300):
– Minimum presence of orders: 50%
– Minimum size: SAR 50,000
– Maximum spread: 5%
– Minimum value traded: N/A
Tadawul added that Merrill Lynch KSA and Morgan Stanley will conduct market-making activities in accordance with the applicable market regulations and procedures.
Logo of Saudi Exchange (Tadawul)
The Saudi Exchange (Tadawul) approved Merrill Lynch KSA’s request to conduct market-making activities on Gulf Union Alahlia Cooperative Insurance Co., Americana Restaurants International PLC, and Rabigh Refining and Petrochemical Co. (Petro Rabigh), starting Nov. 19.
In a statement to Tadawul, the company said the market maker’s obligations will be as follows:
First: Gulf Union Alahlia (8120):
– Minimum presence of orders: 50%
– Minimum size: SAR 50,000
– Maximum spread: 2%
– Minimum value traded: N/A
Second: Americana (6015):
– Minimum presence of orders: 50%
– Minimum size: SAR 250,000
– Maximum spread: 2%
– Minimum value traded: N/A
Third: Petro Rabigh (2380):
– Minimum presence of orders: 80%
– Minimum size: SAR 50,000
– Maximum spread: 0.65%
– Minimum value traded: ≥5%
In a separate statement, Tadawul also approved Morgan Stanley’s request to conduct market-making activities for Gulf Union Alahlia and Alwaha REIT Fund, as of Nov. 19.
The market maker’s obligations for Morgan Stanley Saudi Arabia will be as follows:
First: Gulf Union Alahlia (8120):
– Minimum presence of orders: 50%
– Minimum size: SAR 50,000
– Maximum spread: 2%
– Minimum value traded: N/A
Second: Alwaha REIT (9300):
– Minimum presence of orders: 50%
– Minimum size: SAR 50,000
– Maximum spread: 5%
– Minimum value traded: N/A
Tadawul added that Merrill Lynch KSA and Morgan Stanley will conduct market-making activities in accordance with the applicable market regulations and procedures.
