Morgan Stanley has announced that Morgan Stanley Saudi Arabia (MSSA) has launched equity trading on the KSA stock exchange, Tadawul. The bank has reported that this new capability enables the firm and its clients to trade cash equities and delivers the firm’s global market expertise to Saudi as well as to GCC investors.
The launch also enables MSSA to service international clients via swap contracts. This capability follows on the firm’s recent initiation of economic and equity strategy research coverage for Saudi Arabia.
Fahad Almubarak, Chairman of MSSA, said: “Saudi Arabia is a key market for the Firm and this new trading capability, in conjunction with our recent research initiation, is a vital stage in the development of our local product offering. In addition to our expertise in investment banking, asset management and wealth management, this initiative helps us grow our presence and product offering to service our institutional and corporate clients.”
Habib Achkar, CEO of MSSA, said: “We are very excited to have the infrastructure in place to provide the best distribution and execution for our international and local clients to trade in the Saudi markets. We would like to take this opportunity to thank the Capital Market Authority and Tadawul for their continued support in helping us achieve this important milestone.”