CA Cheuvreux Offers Tadawul Swap Agreements To Institutional Clients

Credit Agricole Cheuvreux has started offering its institutional investor clients access to the Saudi Arabian stock market (Tadawul) through swap products. CA Cheuvreux is among the first brokers to offer market access product on individual Saudi stocks since the Kingdom

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Credit Agricole Cheuvreux has started offering its institutional investor clients access to the Saudi Arabian stock market (Tadawul) through swap products.

CA Cheuvreux is among the first brokers to offer market access product on individual Saudi stocks since the Kingdom opened up to international investors in August 2008. Saudi Arabia’s capital market has increasingly gained interest from global investors.

CA Cheuvreux’s executing broker on the Saudi Arabian market is Fransi Tadawul, a subsidiary of Banque Saudi Fransi (31.1% affiliate of Calyon). Under the regulatory guidance of the Capital Market Authority (CMA), local authorised entities such as Fransi Tadawul are now able to transfer the economic performance of Saudi stocks to non-GCC investors through swap agreements.

Through its branch in Dubai, opened in 2008, CA Cheuvreux already offers execution services on the other Middle Eastern markets. Its local analysts and sales teams provide developed expertise on Dubai, Abu Dhabi, Qatar, Saudi Arabia, Bahrain, Oman and Kuwait.

“This new development complements our strategy of providing our institutional clients with a full range of services and support, from research to execution, throughout the Gulf Region,” says Francois Simon, chairman and CEO, CA Cheuvreux.

“By allowing access to GCC’s principal capital market we are satisfying an enormous interest from our clients who are looking to invest in the region,” commented Ian Peacock, Global Head of Execution Services at CA Cheuvreux. “As capital flow continues to increase in the Saudi market, CA Cheuvreux has the local knowledge and broker presence to provide its investors with the vital expertise necessary to properly invest in Tadawul listed companies.”

L.D.

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