Tadawul permits Merrill Lynch KSA to conduct market-making activities on Aramco

Logo of Saudi Arabian Oil Co. (Saudi Aramco)

The Saudi Exchange Co. (Tadawul) approved Merrill Lynch KSA’s application for conducting market-making activities on Saudi Arabian Oil Co. (Saudi Aramco) as the first international market maker as of March 19, 2024.

The market maker obligations on Saudi Aramco are as follows:

- Minimum Presence of Orders: 80%

- Minimum Size: 500,000 SAR

- Maximum Spread: 0.30%

Merrill Lynch KSA will be conducting market-making activities as defined in the market making regulations and procedures, Tadawul said in a statement.