Here’re the main derivatives market features in Tadawul

Trading Hours 

First session: Pre-open (opening auction) 

9:00 am to 9:30 am 

Second session: Market Open(trading) 

9:30 am to 15:30 pm 

Third session: closed market 

15:30 pm to 16:00 pm 

Fourth session: closed system 

16:00 pm to 9:00 am the following day. 

MT30 Index Futures

Daily Price Limits

+/-20%

Minimum Price Fluctuation–Tick

0.5 points valued at SAR 50

Closing Price

Last transaction price

Contract Code

SF30

Minimum Transaction

One contract

Contract Size

SF30 multiplied by SAR 100

*Trading Commission

SAR 25

Speculative Position Limit

Maximum number of net long or net short position to be held for all months combined 10,000

Qualified hedgers can hold positions beyond 10,000 contracts subject to Exchange approval upon submission of relevant documents of owning the underlying assets.

Settlement

All outstanding positions are Mark to Market based on daily settlement price at the end of the day T+0

Daily Settlement Price

Daily settlement price of the futures contract shall be based on:

• The VWAP (volume weighted average price) of last 10 minutes of the trading day, subject to a minimum of 10 trades in last 10 minutes.
• And if there are less than 10 trades in last 10 minutes then the Exchange shall use the Theoretical Futures Price (TFP)1 to compute the fair value of the contract at the market close

Final Settlement Price

The Final Settlement Price shall be the average value, rounded to the nearest 0.5 of an index point (values of 0.25 or 0.75 and above being rounded upwards), taken at every 15 seconds or at such intervals as may be determined by the Exchange from time to time from 14:00 to 15:00 plus one value after 15:10:30 of the MT30 on the Final Trading Day excepting the 3 highest and 3 lowest values.

Price Change Unit

The minimum limit of futures price change will be determined by the market in the specification of listed derivatives.

Underlying Instrument

MT30 (MSCI Tadawul 30 Index)

Contract Code

(Product code + contract year + contract month)

Contract Months

Current month, next month and the next two quarters

Contract Expiry

Third Thursday of the expiry month. If it is a holiday then expiry will move backward to the previous trading day.

Investment Features 

Characteristic 

Saudis 

Residing foreigners and GCC investors 

Non-residing foreigners 

Voting right 

No 

No 

No 

Participation in public offering 

No 

No 

No 

Participation in private offering 

No 

No 

No 

Capital gains tax 

0% 

0% 

0% 

Withholding tax 

0% 

0% 

5% 

Other restrictions 

No 

No 

Foreign investment restrictions