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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s stock market will soon receive three new derivatives bourse members, as announced during the third edition of the Saudi Capital Market Forum.
Al-Rahji Capital, Alkhabeer Capital, and Aljazira Capital are expected to start brokerage services later this year, according to a statement.
During the conference, Saudi National Bank announced the successful completion of the launch of single stock options contracts.
This move is projected to enable local as well as international investors to effectively hedge and manage portfolio risks as well as diversify the products available for trading in the market.
Also occurring at the event, Saudi Tadawul Group, in partnership with State Street, released a new report titled “Overview of Active vs. Passive Strategies in the Saudi Stock Market” that delves into the effectiveness and value of stock selection strategies employed by mutual funds.
The report offers investors critical insights into the dynamics of the Saudi stock market as a whole.
The analysis revealed that Saudi market capitalization has grown from SR2 trillion ($533 billion) to SR11 trillion, State Street Senior Investment Adviser Ramu Thiagarajan highlighted during a session.
Thiagarajan also underlined that as the Kingdom’s growth plans have evolved, market leaders across different sectors have changed, with technology and health sectors becoming leaders.
Moreover, he stressed that there has been increased cross-sectional dispersion in the returns pattern since 2020, driven by the extent of some companies being up 300 to 400 percent in the last couple of years.
Regarding trading patterns, he added that most trading is from non-institutional investors, while ownership is predominantly institutional.
Participation in the Saudi capital market has become democratized and has led to a different pattern of price discovery over time, the adviser concluded.
Organized by Saudi Tadawul Group, the two-day event, which is held under the theme “Powering Growth,” aims to serve as a nexus for transformative dialogue and innovation, fostering the convergence of emerging markets with established financial frameworks.
Emphasizing the pivotal role of such events, Mahmoud Khairy, an economist and policy adviser, told Arab News earlier this week that “the forum facilitates essential dialogue among key stakeholders, fostering collaboration and innovation within the financial sector.”
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