Tadawul unveils OTC trading procedures

25/03/2019 Argaam

 

The Saudi Stock Exchange (Tadawul) on Monday has published the procedures of suspending listed securities and over-the-counter (OTC) trading.

 

Tadawul said in a statement that OTC trading occurs in the following cases:

 

- Trading suspension when the company fails to disclose its financials


- Trading suspension when the external auditor report includes a qualified opinion or a disclaimer opinion.


- Trading suspension when the company fails to comply with relevant rules and regulations with regard to investor protection or maintaining an organized market.

 

The OTC trading commission for Tadawul, Edaa and the Capital Market Authority (CMA) is similar to the current commission applicable for trading of the listed companies.

 

Meanwhile, brokers’ commission will be de-regulated, the statement added. 

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