GENEVA - Monday, April 30th 2012 [ME NewsWire]
BUSINESS WIRE)-- MSCI Inc. (NYSE: MSCI), a leading provider of investment decision support tools worldwide, announced today that it will reintroduce coverage of the Saudi Arabia equity market with the release of standalone country indices, after reaching agreement with the Saudi Stock Exchange (Tadawul) for the provision of market data.
The reintroduced MSCI Saudi Arabia Domestic Indices, including large cap, mid cap and small cap indices, are designed for institutional investors wishing to invest in Saudi Arabia, and who are not constrained by foreign ownership limits.
"We are delighted that we are once again able to offer indices covering the Saudi Arabia equity market,” said Baer Pettit, Managing Director and Head of the MSCI Index business. “We believe that this announcement will be welcomed by investors both in the region, and globally. Our clients continue to demand high quality indices that accurately reflect the equity market opportunity in the region, either as benchmarks or as the basis for various financial instruments.”
Mr Abdullah Suweilmy, CEO of the Saudi Stock Exchange (Tadawul) commented, “We are very pleased to have MSCI as an authorized index provider at Tadawul. Investors and asset managers in Saudi Arabia and around the world can now use the services of MSCI for their view of the equity market in Saudi Arabia, and financial product providers can use MSCI as the basis for products that enable investors to participate in the performance of the Saudi stock market.”
MSCI will also reintroduce the MSCI GCC Countries Index (MSCI GCC Countries ex Saudi Arabia Index + MSCI Saudi Arabia Domestic Index) and the MSCI Arabian Markets Index (MSCI Arabian Markets ex Saudi Arabia Index + MSCI Saudi Arabia Domestic Index), as well as domestic versions of existing regional indices.
MSCI will make the MSCI Saudi Arabia Domestic Indices, and related regional indices, available in the course of June 2012.
MSCI Inc. is a leading provider of investment decision support tools to investors globally, including asset managers, banks, hedge funds and pension funds. MSCI products and services include indices, portfolio risk and performance analytics, and governance tools.
The company’s flagship product offerings are: the MSCI indices with approximately USD 7 trillion estimated to be benchmarked to them on a worldwide basis1; Barra multi-asset class factor models, portfolio risk and performance analytics; RiskMetrics multi-asset class market and credit risk analytics; MSCI ESG (environmental, social and governance) Research screening, analysis and ratings; ISS governance research and outsourced proxy voting and reporting services; FEA valuation models and risk management software for the energy and commodities markets; and CFRA forensic accounting risk research, legal/regulatory risk assessment, and due‐diligence. MSCI is headquartered in New York, with research and commercial offices around the world.
1As of June 30, 2011, based on eVestment, Lipper and Bloomberg data.
For further information on MSCI, please visit our web site at www.msci.com
About the Saudi Stock Exchange (Tadawul)
The Saudi Stock Exchange (Tadawul) Company is the sole owner and operator of the Saudi stock market and the Saudi depository, and is regulated by the Capital Market Authority of the Kingdom of Saudi Arabia. It was established as a joint stock company in 2007.
It operates advanced electronic trading, clearing, settlement, registry, depository, reporting and market data platforms for transactions in Saudi listed companies, Saudi listed Bonds and Sukuks, and Saudi ETFs.
It is the largest exchange in the GCC, in terms of market capitalisation and of value of equity traded. At the end of March 2012 total equity market capitalization was US$ 410.5 billion (Saudi Riyal 1,539.6 billion) and the daily average value traded of equity for quarter 1 2012 was US$ 2.8 bn (Saudi Riyal 10.5 bn). It lists 150 companies, and has 33 trading member firms and 11 Clearing Banks.
For further information on the Saudi Stock Exchange (Tadawul) please visit: www.tadawul.com.sa
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