SAUDI ARABIA: The Capital Market Authority (CMA) announced that Tradeweb Markets has completed the commencements of business requirements to conduct Securities Exchange Activities as alternative trading system (ATS) for Sukuk and debt instrument as per CMA resolution dated the 26th June 2024. The CMA selected Tradeweb to build and run the Kingdom’s first regulated electronic bond market infrastructure following a competitive tender process in Q1 2024.
Tradeweb Markets then announced that its platform has facilitated its inaugural transaction between BlackRock and BNP Paribas, with a subsequent trade between BlackRock and Goldman Sachs.
The ATS forms part of Tradeweb’s global multi-asset Emerging Markets (EM) platform, which supports over 20 currencies across fixed income cash and derivatives markets. The addition of SAR bonds to the platform further expands Tradeweb’s EM footprint spanning Asia Pacific, Central and Eastern Europe, Middle East and Africa, and Latin America.
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