CMA and Tadawul to launch new services to investors and listed companies through "Tadawulaty" systemDubai: The Saudi Capital Market (CMA) and the Saudi Stock Exchange (Tadawul) are set to launch a new set of services that are important to investors of all kinds and listed companies in the capital market.
This is considered an update to the "Tadawulaty" system which provided e-voting services and viewing the holding reports and portfolios and so on. These services will be launched soon.
Dr Abdul Rahman Al Tuwaijri, chairman of the Capital Market Authority, explained that as one of the authority's initiatives to activate the role of investors in the market and increase their awareness of their rights in listed companies in which they own securities.
Tadawul has developed the dividends reports through "Tadawulaty" that enables investors to inquire about dividend entitlements. This service will help to raise the efficiency of the follow-up mechanism for dividends of all companies in an easy and accessible way.
He also emphasised the importance of the listed companies providing Tadawul with the information regarding dividends so shareholders can find any accrued dividends that they didn't receive.
The chairman also noted that the "trading ban" service is important in applying the listing rules and regulations. It is also important in raising the compliance level and promoting self-censorship in listed companies.
The service allows an electronic trading ban on board members and executives and their first degree relatives who meet the instructions of the trading ban during the periods preceding the results announcement of the listed companies which are identified by CMA.