The Saudi Stock Exchange (Tadawul) achieved a major milestone on Saturday,
October 20, with the launch of a new high capacity electronic trading platform
provided by OMX. The launch was highly successful and received immediate
acknowledgement from participating members, the investing public and the press.
The Saudi Stock Exchange (Tadawul) operates one of the largest stock markets in
the world and is the single largest stock market in the Middle East region. OMX
is the primary system integrator for the design, implementation and
infrastructure of the new solution. The delivery includes new system platforms
for trading and market data dissemination. This delivery is the first of a
series of deliveries that include market surveillance and central securities
depository solution.
“We congratulate the Saudi Stock Exchange Tadawul on the successful launch of
the new trading system. The launch is further proof of OMX's strong position in
the Middle East. Tadawul is already one of the world's largest exchanges and we
look forward to be part of its continued development”, said Magnus Böcker, CEO
of OMX.
Abdullah AlSuweilmy, General Manager of Tadawul, “The new infrastructure will
expand the capabilities of the exchange and open new dimensions for further
growth in the Saudi Market. This is a major milestone in the history of the
market.”
Tadawul has experienced phenomenal growth over the past years both in terms of
number of trades and number of listed companies. The new trading solution is
designed to support the current and future requirements for the market. Tadawul
was recently incorporated as a joint stock company in accordance with the
Capital Market Law. As of 20 October, 2007, there were 107 companies listed with
market capitalization of SR 1.37 trillion (U$ 366.3 billion).
For more information, please contact:
Heidi Wendt, OMX +46 8 405 72 93
About OMX | OMX is a leading expert in the exchange industry. The OMX Nordic
Exchange comprises over 800 companies including its alternative market First
North. OMX provides technology to over 60 exchanges, clearing organizations and
central securities depositories in over 50 countries. The Nordic Exchange is not
a legal entity but describes the common offering from OMX exchanges in Helsinki,
Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. OMX is a Nordic
Large Cap company in the Financials sector on the OMX Nordic Exchange. For more
information, please visit www.omxgroup.com.
This information is disclosed according to applicable law and exchange rules.
