Nasdaq: Saudi Stock Exchange (Tadawul) Signs Post-Trade Technology Transformation Agreement with Nasdaq

Saudi Stock Exchange will transform its post-trade infrastructure

    Nasdaq to deliver new cash and derivatives clearing, central securities
          depository (CSD) and post-trade risk management technologies

RIYADH, N.Y. and STOCKHOLM, Sweden, Dec. 04, 2017 (GLOBE NEWSWIRE) -- The Saudi
Stock Exchange (Tadawul) and Nasdaq have officially signed an agreement to
transform Tadawul's post-trade technology infrastructure, which includes
registry, depository and risk management technologies. In addition to the
post-trade area, Nasdaq will continue to support the existing trading and
market surveillance technology at Tadawul. 

The new post-trade technology, will replace Tadawul's current registry,
depository, clearing and settlement solution, which was implemented in 2001. In
addition to introducing a new central counterparty clearing solution, this
transformation will enable both Tadawul and market participants to introduce
new asset classes to the market and offer new services to the investors.
Furthermore, these changes will increase efficiency, effectiveness and further
growth of the market, supported by a modern flexible and efficient technology
that reduces risks in the post-trade area in compliance with international best
practices and standards. 

This transformation is expected to be complete during second half of 2020.

"We are very keen on investing in cutting-edge technologies to offer a fast and
efficient Post Trade platform," said Eng. Khalid Abdullah Al-Hussan, CEO, The
Saudi Stock Exchange (Tadawul). "This crucial step goes hand in hand with all
the market enhancements we have undertaken to integrate securities trading in
Saudi Arabia with global equity markets and enhance post trade infrastructure
and efficiency for local and foreign investors." 

"The ambition of Tadawul to become an innovative, world-leading exchange
company is not only admirable but inspiring to our industry," said Adena
Friedman, President and CEO, Nasdaq. "By addressing the demand to overhaul,
modernize and evolve its post-trade infrastructure, this demonstrates a clear
vision by Tadawul to attract capital - both domestic and foreign - and present
Riyadh as a major financial destination with best-in-class technology operating
at its core. As a long-term partner, we are proud to be supporting Tadawul in
their ambitious efforts and incredibly bright future." 

Nasdaq's market infrastructure technologies, including trading, real-time risk,
index, clearing, CSD and market surveillance systems are operated in more than
100 marketplaces, regulators, clearinghouses and central securities
depositories across the Americas, Europe, Asia, Australia, Africa, the Middle
East and the Caribbean. 

About Tadawul
Saudi Stock Exchange (Tadawul) is the sole entity authorized in the Kingdom of
Saudi Arabia to act as the kingdom's securities exchange (the Exchange),
listing and trading in securities. The Saudi stock market is the 26th largest
stock market among the 67 members of the World Federation of Exchanges and is
the dominant market in the Gulf Cooperation Council (GCC) comprising 48 percent
of total GCC market capitalization and 73 percent of value traded. 

For more information see:  www.tadawul.com.sa/wps/portal/tadawul/home/

About Nasdaq
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing,
exchange technology, listing, information and public company services. Through
its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize
and execute their business vision with confidence, using proven technologies
that provide transparency and insight for navigating today's global capital
markets. As the creator of the world's first electronic stock market, its
technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the
world's securities transactions. Nasdaq is home to approximately 3,900 total
listings with a market value of approximately $12 trillion. To learn more,
visit: http://business.nasdaq.com 

                                      NDAQG

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Tadawul
Abdullah Alsharif
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