Business
SNB Capital to conduct market-making activities on Saudi Aramco: Saudi Exchange Co
Saudi Exchange Company announced on Thursday the approval of SNB Capital’s application for conducting market-making activities on Saudi Arabian Oil Co. (Aramco), as of August.
Market-makers help create a market for investors to buy or sell securities on a stock exchange, boosting trading activity and reducing the frequency of sharp price swings.
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The exchange said the market-maker obligations on Aramco are an 80 percent minimum presence of orders, with a minimum size of 500,000 riyal ($133,315), and a maximum spread of 0.30 percent.
The Saudi stock exchange launched a market-making framework for its stock and derivatives markets to help ensure liquidity and raise price-determination efficiency, it said last year.
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