Saudi Tadawul, Bloomberg Finance in index deal

The Saudi Stock Exchange (Tadawul) has this week signed an agreement with Bloomberg Finance L.P. for developing financial indices, the SPA news agency reported.

'The agreement provides the development of special financial indices comprising information on the Saudi financial market provided by Tadawul,' SPA said.

The deal authorises Bloomberg Finance L.P. to use real-time Tadawul price and other data to create indices, which may measure the performance of the Saudi stock market.

Bloomberg L.P. is the third international company to sign an agreement for establishing indices with Tadawul. Dow Jones Indexes and Standard and Poor’s are already Saudi market index providers.END