Sova Capital, a London-headquartered emerging markets brokerage, has announced it is now offering trading in forward contracts linked to equities listed on the Tadawul, Saudi Arabia’s stock exchange.
Sova already conducts global trading in securities from Russia, the Commonwealth of Independent States, Central and Eastern Europe, Turkey and other emerging markets on behalf of institutional clients.
Its addition of Saudi forward contracts is a response to rising client demand.
Interest in the Saudi stock market, now the largest in the Middle East, has been growing since Saudi Aramco, Saudi Arabia’s multinational state-owned oil and natural gas giant, pulled off a record-setting initial public offering (IPO) of shares on the Tadawul in December 2019, raising $25.6bn.
The Tadawul is Saudi Arabia’s only stock exchange and the main stock exchange for the six countries that are members of the Gulf Cooperation Council (GCC).
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