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Tadawul’s enhancement to opening, closing from May 27

The bourse plans to move to auction method of determing closing prices from Volume Weighted Average Price (VWAP) method

Gulf News

Dubai

Tadawul said on Tuesday that enhancement to its opening and closing price mechanism will be implemented from May 27.

The bourse plans to move to auction method of determining closing prices from Volume Weighted Average Price (VWAP) method, and enhancing the opening price auction in line with practices adopted by other major markets.

“The result is expected to be greater price efficiency, increased liquidity, reduced market volatility and enhanced security for both investors and intermediaries, and thus creating a more attractive investment climate for domestic and international investors,” said Khalid Abdullah Al Hussan, Chief Executive Officer of Tadawul.

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