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CMA Chief: Trading Based on Algorithms Represents 25% of Transactions in Saudi Capital Market

President of the Saudi Capital Market Authority (CMA) Mohammed Al-Kuwaiz (Asharq Al-Awsat)
President of the Saudi Capital Market Authority (CMA) Mohammed Al-Kuwaiz (Asharq Al-Awsat)
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CMA Chief: Trading Based on Algorithms Represents 25% of Transactions in Saudi Capital Market

President of the Saudi Capital Market Authority (CMA) Mohammed Al-Kuwaiz (Asharq Al-Awsat)
President of the Saudi Capital Market Authority (CMA) Mohammed Al-Kuwaiz (Asharq Al-Awsat)

Mohammed Al-Kuwaiz, president of the Saudi Capital Market Authority (CMA), said that trading based on algorithms represents about 25% of the volume of transactions in the Saudi capital market, which confirms the importance of digitization.
Attending a dialogue session on the first day of the 24 Fintech Conference in Riyadh on Tuesday, he said that trading based on algorithms represents about 70% of global trading volumes, especially in developed markets.
Al-Kuwaiz said that “buy now, pay later” is an authorized field, and is the most desired among citizens, and it can be made easier to protect investors and customers.
“The financial sector was one of the first sectors to adopt digital transformation, as trade actually began in the 1970s before the launch of the Internet,” he said.
The CMA chief said that Saudi Arabia was one of the first countries to introduce digital trade in the 1990s, noting that this trade represents more than 90% of traded volumes at present.
“The financial services sector represents about 15% of global spending on information technology, which illustrates the focus of spending, its importance, and digitization in financial services,” he added.

 

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DMDF 2024 Explores Dynamics of Saudi Financial Market

A previous conference organized by the Saudi Financial Academy (Asharq Al-Awsat)
A previous conference organized by the Saudi Financial Academy (Asharq Al-Awsat)
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DMDF 2024 Explores Dynamics of Saudi Financial Market

A previous conference organized by the Saudi Financial Academy (Asharq Al-Awsat)
A previous conference organized by the Saudi Financial Academy (Asharq Al-Awsat)

The Debt Markets and Financial Derivatives Forum (DMDF 2024), set to launch on Sunday in Riyadh, will focus on key principles aimed at exploring the dynamics of the Saudi financial market.
Organized by the Financial Academy, the forum will be held under the patronage of Mohammed El-Kuwaiz, Chairman of the Capital Market Authority and the Board of Trustees of the Financial Academy, with the participation of industry leaders, experts, and specialists from the financial securities sector.
The forum will examine emerging trends and insights from experts and CEOs in the financial sector, contributing to the mission of the Financial Academy, which aims to leverage its resources to provide high-level specialized services that align with Saudi Arabia’s Vision 2030.
Mana bin Mohammed Al-Khamsan, CEO of the Financial Academy, told Asharq Al-Awsat that the forum comes in parallel with the Kingdom’s ongoing advancements, driven by Vision 2030, which seeks to achieve exceptional results across all areas, particularly the economic sector, a cornerstone of the country’s development.
Key Focus Areas
According to Al-Khamsan, the forum will address several major topics in the financial sector, including strategic partnerships with local and international exchanges, such as collaborations with the Saudi Tadawul Group and the Chicago Mercantile Exchange. It will also include partnerships with renowned international organizations like the CFA Institute and the International Capital Market Association (ICMA).
He added that a central focus will be on the debt and derivatives markets, which are expected to experience significant growth in the near future due to recent legal and regulatory reforms. These markets will play a crucial role in diversifying financing sources and improving liquidity.
The CEO of the Financial Academy also noted that the debt and derivatives markets in Saudi Arabia are experiencing rapid growth, and are expected to play a vital role in expanding funding sources and enhancing liquidity over the next few years.
Additionally, the official anticipated a rise in foreign investments in the Saudi financial market due to an improved regulatory environment and increased confidence among international investors.
Future Outlook
According to Al-Khamsan, the forum will shed light on these transformations through panel discussions and dialogues centered on future trends and challenges facing these markets. It will also present innovative solutions to keep pace with global financial market developments.
The forum aims to deliver measurable outcomes by tracking the impact of the Financial Academy’s initiatives on career development within the sector and fostering the principles of continuous professional training across the Kingdom’s financial industry, he underlined.
Al-Khamsan continued that the forum seeks to raise awareness and facilitate the exchange of expertise on modern financial instruments and risk management, while solidifying Saudi Arabia’s position as a leading investment destination regionally and globally. This will be achieved through collaboration with prestigious local and international entities such as the Saudi Tadawul Group, the Chicago Mercantile Exchange, and the CFA Institute.