Morgan Stanley Kicks Off Equity Trading in Saudi Arabia

June 22 2009 -- Riyadh -- Morgan Stanley (NYSE:MS) today announced that Morgan Stanley Saudi Arabia (MSSA) has launched equity trading on the KSA stock exchange, Tadawul. This new capability enables the Firm and its clients to trade cash equities and delivers the Firm's global market expertise to Saudi as well as GCC investors. The launch also enables MSSA to service international clients via swap contracts.

The new equity trading capability follows on the Firm's recent initiation of economic and equity strategy research coverage for Saudi Arabia.

Article continues below...

Dr. Fahad Almubarak, Chairman of MSSA said, "Saudi Arabia is a key market for the Firm and this new trading capability, in conjunction with our recent research initiation, is a vital stage in the development of our local product offering. In addition to our expertise in investment banking, asset management and wealth management, this initiative helps us grow our presence and product offering to service our institutional and corporate clients."

Commenting on this development, Habib Achkar, CEO of MSSA said, "We are very excited to have the infrastructure in place to provide the best distribution and execution for our international and local clients to trade in the Saudi markets. We would like to take this opportunity to thank the Capital Market Authority and Tadawul for their continued support in helping us achieve this important milestone"

In August 2008, Morgan Stanley Saudi Arabia became the first investment bank to successfully execute a Swap transaction on behalf of a non-resident foreign investor, giving clients outside the Kingdom access to companies listed on the Tadawul.

Morgan Stanley is a global financial services firm providing investment banking, securities, investment management, wealth management and credit services.

Source: Morgan Stanley (NYSE:MS)