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Trading Cycle and Times


Trading Cycle

Step 1: Buying and selling investors submit orders via the member where their accounts are maintained. This may be achieved through one of the channels provided by the member which includes, but not limited to, electronic trading platform, branch and telephone banking. These orders represent the agreement between the member and the investor to execute a specific business transaction as per the investor order. 
Step 2: Orders are entered into the member’s Order Management System (OMS). In accordance with market conditions and the requirement of the investor, the orders within the Member’s OMS are forwarded to Saudi Exchange via a high-speed network.
Step 3: Saudi Exchange attempts to match orders according to price, and then time priority. A variety of order types and special terms are available to the investor. Unmatched orders are maintained in Saudi Exchange until either they match, are withdrawn, or expire.
Step 4: From matched orders, trades are generated and reported electronically to the Securities Clearing Center.
Step 5:  Securities Clearing Center generates settlement instructions and send those electronically to Central Securities Depository.
Step 6: Settlement of trades happen in two levels at the Central Securities Depository. First level is member to CCP on a DVP level and the second one is member to client (FoP if the client is within the same custodian and DVP if client uses another custodian). Cash settlement is achieved via Saudi Central Bank.

Trading Times

Trading Days: One session, Sunday through Thursday except official holidays

Market Start Time End Time
Trading in Equities  10:00 AM 3:20 PM
Trading in ETFs 10:00 AM 3:00 PM
Trading in Sukuk & Bonds 10:00 AM 3:00 PM

* Note: the market opens and closes on a variable basis within 30 seconds after 10:00 AM and after 3:10 PM.

Buy-in Sessions

Auction Sessions (as per the official time in the Kingdom) Available Buy-in Process and order types

 

 

 

 

 

First Auction

8:00 AM to 9:00 AM

Buy-in Process:

Mandatory buy-in and optional buy-in /and optional sell
out orders.

Order Type

  • All Mandatory Buy-in orders in this session must be market orders
  • Optional buy-in orders/ and optional sell out orders may be either market order or limit order
9:00 AM – 9:30 AM

Exchange Members may submit orders to match the bid and offer Submitted in the previous session, where the trades will be executed at the end of the auction at 9:30am.

Order Type:

All orders in this session must be limit orders.

 

 

 

 

Second Auction

1:30 PM – 2:30 PM

Buy-in Process:

Mandatory buy-in and optional buy-in /and optional sell out orders

Order Type: 

  • All mandatory buy-in orders in this session must be market orders.
  • Optional buy-in orders /and optional sell out orders may be either market orders or limit orders.
2:30 PM – 3:00 PM

Exchange Members may place orders to match the bid and offer Submitted in the previous session, where the trades will be executed at the end of the auction at 3:00pm.

Order Type:

All orders in this session must be limit orders

 

Annual Official Holidays in the Kingdom of Saudi Arabia are: 

  • Saudi Founding Day 22 February.
  • Saudi Arabia National Day 23 September.
  • Eid Al-Fitr and Eid Al-Adha. 

Market will be closed during these holidays and announced on the Saudi Exchange website.