Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) has announced amendments to the mechanism of specifying opening and closing prices for stocks listed on the main Tadawul All Share Index (TASI) and the benchmark index of the Nomu-Parallel Market (NOMU).
The changes will come into effect as of Sunday, 27 May, according to the bourse’s statement on Wednesday.
The adjustments aim at boosting the Saudi bourse’s efficiency in line with international state-of-the-art practices.
Tadawul will implement the auction mechanism to calculate the closing price instead of the current Volume Weighted Average Price (VWAP), the statement showed.
“Opening prices will continue to be determined by auction but market orders shall be displayed unpriced at the top of the order book during the auction period, and a single index opening value will be published after all order books have uncrossed,” the Saudi stock market noted.
