Logo ofThe Saudi Exchange (Tadawul)
The Saudi Exchange (Tadawul) announced changes to the market order mechanism for the Main Market and Nomu-Parallel Market, effective Oct. 4.
Under the new mechanism, market orders can be executed against available quantities across multiple price levels, within a maximum range of five price ticks starting from the best available price. Once that limit is reached, or no further quantity is available within the range, any unexecuted quantity will be converted into a limit order at the last execution price.
Previously, market orders were executed only against available quantity at the best price, with any unexecuted quantity converted into a limit order at the execution price.
Tadawul said the change is designed to increase the number of market orders that can be executed immediately by allowing access to additional liquidity within the five-tick range. As a result, a market order may be filled across several price levels rather than a single level.
The change applies only to securities listed on the Main Market and Nomu. The derivatives market will remain unchanged.
Logo ofThe Saudi Exchange (Tadawul)
The Saudi Exchange (Tadawul) announced changes to the market order mechanism for the Main Market and Nomu-Parallel Market, effective Oct. 4.
Under the new mechanism, market orders can be executed against available quantities across multiple price levels, within a maximum range of five price ticks starting from the best available price. Once that limit is reached, or no further quantity is available within the range, any unexecuted quantity will be converted into a limit order at the last execution price.
Previously, market orders were executed only against available quantity at the best price, with any unexecuted quantity converted into a limit order at the execution price.
Tadawul said the change is designed to increase the number of market orders that can be executed immediately by allowing access to additional liquidity within the five-tick range. As a result, a market order may be filled across several price levels rather than a single level.
The change applies only to securities listed on the Main Market and Nomu. The derivatives market will remain unchanged.
