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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. Saudi Exchange automatically validates availability of the shares and investor details.
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 bank’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 taken out of the market or expire.
Step 4: From matched orders, trades are generated and reported electronically to the Central Securities Depository.
Step 5: A trade results in the immediate transfer of shares from the account of the seller to the account of the buyer. All trading is conducted in the dematerialized form. Cash transfer is achieved via the national real-time gross settlement system, SARIE.
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 |
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
|
| 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
|
| 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 |
* Note: the market opens and closes on a variable basis within 30 seconds after 10:00 AM and after 3:10 PM.
Official Holidays in the Kingdom of Saudi Arabia are:
- Saudi Founding Day 22 February
- National Day of Saudi Arabia (23 September).
- Eid Al-Fitr and Eid Al-Adha.
Market will be closed during these holidays and announced on the Saudi Exchange website.
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