Interactive Brokers Teams Up with SNB Capital for Saudi Stock Trading

Wednesday, 09/10/2024 | 20:57 GMT by Jared Kirui
  • This partnership enables clients to diversify their portfolios by investing in Saudi equities, global stocks, ETFs, and other securities.
  • The Saudi stock market offers over 400 listed securities.
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Interactive Brokers partnered with Saudi Arabia's Capital Market Authority licensed firm SNB Capital to allow international investors to trade directly on the Saudi Exchange. This collaboration enables the clients of Interactive Brokers to diversify their portfolios by investing in Saudi equities, global stocks, ETFs, and other securities from a single platform.

Diversifying Investments Portfolio

According to the company's statement, InteractiveBrokers' clients can now buy and sell Saudi stocks, real estate investment trusts (REITs), and exchange-traded funds (ETFs) under the new agreement. Saudi Arabia's stock market, often considered the gateway to the Gulf Cooperation Council (GCC), reportedly features over 415 listed securities across 22 sectors.

Commenting about the partnership, Milan Galik, the Chief Executive Officer of Interactive Brokers, said: “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.”

It is ranked among the top ten largest stock markets worldwide, offering vast potential for investors looking to gain exposure to the region's economic growth. This collaboration also aligns with the objectives of Saudi Vision 2030, a national initiative designed to diversify the Kingdom's economy and foster an advanced financial market.

Managing Global Investments

The offering enables investors to manage their Saudi holdings alongside other global investments such as stocks, options, futures, and bonds. The launch of this collaboration was commemorated during a bell-ringing ceremony at the Saudi Exchange in Riyadh.

The event reportedly featured key figures such as Loai Bafaqeeh, SNB Capital's Head of Securities, and James Bradie, Senior Executive Officer of Interactive Brokers' Dubai office.

“Our collaboration with Interactive Brokers comes as an extension to our role as the Saudi national champion and perfectly aligns with our strategic objectives, contributing to achieving the ambitious goals to develop an advanced financial market and provide an effective investment platform with a diversified investor base,” Rashed Sharif, the Chief Executive Officer of SNB Capital, added.

Interactive Brokers partnered with Saudi Arabia's Capital Market Authority licensed firm SNB Capital to allow international investors to trade directly on the Saudi Exchange. This collaboration enables the clients of Interactive Brokers to diversify their portfolios by investing in Saudi equities, global stocks, ETFs, and other securities from a single platform.

Diversifying Investments Portfolio

According to the company's statement, InteractiveBrokers' clients can now buy and sell Saudi stocks, real estate investment trusts (REITs), and exchange-traded funds (ETFs) under the new agreement. Saudi Arabia's stock market, often considered the gateway to the Gulf Cooperation Council (GCC), reportedly features over 415 listed securities across 22 sectors.

Commenting about the partnership, Milan Galik, the Chief Executive Officer of Interactive Brokers, said: “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.”

It is ranked among the top ten largest stock markets worldwide, offering vast potential for investors looking to gain exposure to the region's economic growth. This collaboration also aligns with the objectives of Saudi Vision 2030, a national initiative designed to diversify the Kingdom's economy and foster an advanced financial market.

Managing Global Investments

The offering enables investors to manage their Saudi holdings alongside other global investments such as stocks, options, futures, and bonds. The launch of this collaboration was commemorated during a bell-ringing ceremony at the Saudi Exchange in Riyadh.

The event reportedly featured key figures such as Loai Bafaqeeh, SNB Capital's Head of Securities, and James Bradie, Senior Executive Officer of Interactive Brokers' Dubai office.

“Our collaboration with Interactive Brokers comes as an extension to our role as the Saudi national champion and perfectly aligns with our strategic objectives, contributing to achieving the ambitious goals to develop an advanced financial market and provide an effective investment platform with a diversified investor base,” Rashed Sharif, the Chief Executive Officer of SNB Capital, added.

About the Author: Jared Kirui
Jared Kirui
  • 1401 Articles
  • 19 Followers
About the Author: Jared Kirui
Jared is an experienced financial journalist passionate about all things forex and CFDs.
  • 1401 Articles
  • 19 Followers

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