Tradeweb Launches Electronic Market for Saudi Riyal Bonds
Tradeweb Markets has introduced an Alternative Trading System (ATS) for Sukuk and Saudi Riyal-denominated debt instruments in Saudi Arabia. The platform, licensed by the Capital Market Authority (CMA), executed its first trades between BlackRock, BNP Paribas, and Goldman Sachs.
"The introduction of SAR bonds marks a foundational moment for fixed income market structure in the Kingdom," said Billy Hult, CEO of Tradeweb. The MOVE aims to enhance international participation and streamline post-trade workflows for global investors.
Enrico Bruni, Co-Head of Global Markets at Tradeweb, emphasized the platform's ability to combine local market insight with global trading solutions. This initiative aligns with Saudi Arabia's broader financial market modernization efforts.