Effective May 20th, 2014 the Saudi Stock Exchange (Tadawul) was granted Affiliate Membership with the International Organization of Securities Commissions (IOSCO), an international body that promotes high standards amongst regulators and leading stock exchanges around the world.
Adel Al-Ghamdi, Chief Executive Officer of the Saudi Stock Exchange, stated: "The Exchange’s membership to the International Organization of Securities Commissions is one of various steps we are taking to create an effective communication framework with market regulators and other leading exchanges around the world. We expect our membership to support in the development our capital market within the context of the ever evolving local and global regulatory environments”. Adding, “This membership comes as part of our unwavering efforts to continue to enhance the status of the Saudi Stock Exchange in accordance with our vision and overall strategic plans”.
“On behalf of the Saudi Stock Exchange, I would like to take this opportunity to thank IOSCO for their affirmative consideration, and the Capital Market Authority for encouraging and sponsoring our membership”
The Saudi Stock Exchange joins 62 other affiliate members of IOSCO including the New York Stock Exchange, the London Stock Exchange, Deutsche Börse, the Japan Exchange Group, and Bursa Malaysia, amongst others.