The report provides details on Tadawul’s performance during 2017, during which Tadawul ranked as the 25th largest stock market of the World Federation of Exchanges, with a market capitalization of $451 billion at the end of 2017. Furthermore, the report reveals Tadawul’s significant growth in net income reaching 129.8 million SAR by 31 December 2017, with an increase of 543% over the previous year and a 74% increase in revenues totaling 545.4 million SAR compared to 2016.
The report elaborates on Tadawul’s strategy and its role in realizing the Saudi Vision 2030 and what has been achieved on a strategic level, most notably, launching of Nomu – the parallel market as a step to support the national economy, diversification of products and services provided to market participants, diversifying sources of income as well as developing the necessary infrastructure to support the requirements of transitioning into a global market. The report also sheds light on the marketplace and corporate governance frameworks adopted by Tadawul.
Furthermore, the report highlights Tadawul’s most notable operational achievements in line with best practices, including implementing the Global Industry Classification Standard (GICS), rolling out the T+2 settlement cycle, introducing securities borrowing and lending and covered short-selling frameworks for the first time in the region, the spin-off of the Securities Depository Center (Edaa), and well signing the post-trade agreement with NASDAQ.