Tadawul and Dow Jones in agreement to create Saudi indices

The Saudi Stock Exchange, Tadawul, signed an agreement that allows Dow Jones Indexes to use real-time prices and data to create Saudi indices, the bourse said in a statement on its Web site today.

Under the Agreement, Dow Jones Indexes is authorised to use real-time Tadawul price and other data to create indices, which may measure the performance of the Saudi stock market and may serve as the underlying for third-party investment products such as mutual funds, ETFs and other financial products that enable investors to participate in the performance of the Saudi stock market.

The Tadawu accounts for nearly half of the entire market capitalisation and nearly three quarters of the entire value traded of all GCC stock exchanges.