SNB Capital and Interactive Brokers enable investors to access Saudi Exchange
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SNB Capital and Interactive Brokers enable investors to access Saudi Exchange 11 October 2024Saudi Arabia Reporter: Daniel Tison
Image: Suleyman/stock.adobe.com
SNB Capital has partnered with Interactive Brokers to allow eligible international investors to access the Saudi Exchange.
Interactive Brokers is the first global broker to allow foreign investors to directly own and trade securities listed on the Saudi Exchange, the firm says.
“We are pleased to work with SNB Capital and give investors the ability to trade Saudi equities in addition to our already vast array of global products and markets at low cost,” says Milan Galik, CEO of Interactive Brokers.
Clients of Interactive Brokers can now invest in Saudi equities alongside global stocks, options, futures, bonds, funds, and more from a single unified platform.
Clients of Interactive Brokers can diversify and expand their investment portfolios to include Saudi stocks, real estate investment trusts (REITs), and exchange-traded funds (ETFs) that trade on the Middle East’s major stock exchange, broadening their investment prospects.
Rashed Sharif, CEO of SNB Capital, adds: “Our collaboration with Interactive Brokers comes as an extension to our role as the Saudi national champion and aligns with our strategic objectives contributing to achieving the ambitious goals of Saudi Vision 2030’s Financial Sector Development Program (FSDP) — to develop an advanced financial market and provide an effective investment platform with a diversified investor base.”
SNB Capital has recently become a direct clearing member of Muqassa, a clearing house of the Saudi Tadawul Group.
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Image: Suleyman/stock.adobe.com 