Risk management and bridge technology provider Centroid Solutions announced on Monday that it has partnered with SNB Capital, the largest investment bank in Saudi Arabia.
The partnership between the two firms means that Centroid Solutions clients can now access the Saudi Exchange (or ‘Tadawul‘) – the major Saudi Arabian stock exchange.
As a result, Centroid clients can trade Saudi equities via SNB Capital.
Trading in local stocks has become a popular offering for brokers operating in the MENA region.
For example, a couple of weeks ago we spoke to Scope Markets, who have seen strong demand for CFD trading on both individual UAE equities and local indices.
However, Saudi Arabia is becoming an increasingly attractive market. The country continues to signal that it is opening up in much the same way the UAE has. However, Saudi’s economy and population is much larger, meaning there is a much wider pool of potential clients for brokers.
