NEW YORK :– MSCI Inc. (NYSE: MSCI), a leading provider of indexes and portfolio construction and risk management tools and services for global investors, today announced the signing of an agreement with the Saudi Stock Exchange Co. (Tadawul), the largest stock exchange in the region in terms of market capitalization and turnover, to create a joint tradeable index that can serve as the basis for investment instruments including derivatives and ETFs.
In June 2018, MSCI announced the classification of the Saudi Arabian equity market as an Emerging Market as part of their annual global market classification review. The Index will be based on the broader MSCI Saudi Arabia index series that will be part of the MSCI Emerging Markets Index. The joint tradeable index will be available in Q4 2018.
Henry Fernandez, Chairman and Chief Executive Officer of MSCI, said, “Saudi Arabia has undergone a remarkably rapid period of change in the past few years. This joint index is possible as a result of the Kingdom’s adoption of international standards and desire to create additional investment opportunities for domestic and international investors.”
Khalid Al Hussan, Chief Executive Officer of Tadawul, said, “The creation of the joint tradable index provides a strong foundation for the development of index futures and other exchange-traded products. As the Saudi market is fully integrated into global emerging market indices, including MSCI, launch of an index will pave the way for ETFs and other products that enable investors to broaden exposure and diversify and risk while enhancing the overall efficiency of the market.”
-Ends-
About MSCI
For more than 40 years, MSCI’s research-based indexes and analytics have helped the world’s leading investors build and manage better portfolios. Clients rely on our offerings for deeper insights into the drivers of performance and risk in their portfolios, broad asset class coverage and innovative research.
Our line of products and services includes indexes, analytical models, data, real estate benchmarks and ESG research.
MSCI serves 99 of the top 100 largest money managers, according to the most recent P&I ranking.
For more information, visit us at www.msci.com.
About Tadawul
Saudi Stock Exchange (Tadawul) is the sole entity authorized in the Kingdom of Saudi Arabia to act as the Kingdom’s securities exchange (the Exchange), listing and trading in securities. The Saudi stock market is the 23rd largest stock market among the 67 members of the World Federation of Exchanges and is the dominant market in the Gulf Cooperation Council (GCC) comprising 50 percent of total GCC market capitalization and 79 percent of value traded. The Exchange is the 7thlargest stock market amongst its emerging market peers.
For more information see: www.tadawul.com.sa
Media Inquiries
MSCI
Samuel Wang, +1-212-804-5244
PR@msci.com
or
Tadawul
Mohammed Al Abdullah, +966-54-541-1133
mohammed.abdullah@tadawul.com.sa
or
MSCI Global Client Service
EMEA Client Service, +44-20-7618-2222
Americas Client Service, +1-888-588-4567
Asia Pacific Client Service, +852-2844-9333
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
