The Saudi Stock Exchange Company (Tadawul) has signed an agreement with MSCI, a global index provider, for a new ETI that will be available in the fourth quarter of 2018. <MSCI reclassified the Saudi Stock Exchange as an emerging market during its annual review in June, and the combined index will be available in the fourth quarter of 2018. “The creation of this index provides a platform for the development of future ETFs and other exchange-traded products on the financial market,” said Tadawul's CEO Khalid bin Abdullah Alhussan, adding that the Saudi market's inclusion in global emerging market indices, including the MSCI index, paves the way for ETFs and other products that allow investors to expand their exposure to more diversification and risk management while enhancing overall market efficiency.
Mr. Alhussan said that the index will be available in the fourth quarter of 2018, in parallel with the MSCI index. <Henry Fernandes, Chairman and CEO of MSCI, said: "Over the past few years, Saudi Arabia has witnessed significant developments, and this joint index is a result of the Saudi Stock Exchange's implementation of international standards and its desire to offer additional investment opportunities to international investors."
Henry Fernandez, Chairman and CEO of MSCI, said.
