MSCI to reintroduce Saudi indices

MSCI, a provider of investment decision support tools worldwide, is to reintroduce coverage of the Saudi Arabia equity market after reaching agreement with the Saudi Stock Exchange (Tadawul) for the provision of market data.

The MSCI Saudi Arabia Domestic Indices will be the first coverage that MSCI has provided since dropping the country from its indices in 2010, following a dispute over the licensing of indices to third parties.

Baer Pettit, managing director and head of the MSCI Index business said: “We are delighted that we are once again able to offer indices covering the Saudi Arabia equity market. We believe that this announcement will be welcomed by investors, both in the region and globally. Our clients continue to demand high quality indices that accurately reflect the equity market opportunity in the region, either as benchmarks or as the basis for various financial instruments.”

The reintroduced indices will include coverage of large, mid and small caps. MSCI will also reintroduce the MSCI GCC Countries Index (MSCI GCC Countries ex Saudi Arabia Index + MSCI Saudi Arabia Domestic Index) and the MSCI Arabian Markets Index (MSCI Arabian Markets ex Saudi Arabia Index + MSCI Saudi Arabia Domestic Index), as well as domestic versions of existing regional indices. The indices will be released over the course of June 2012.

Abdullah Suweilmy, chief executive of Tadawul, said: “We are very pleased to have MSCI as an authorized index provider at Tadawul. Investors and asset managers in Saudi Arabia and around the world can now use the services of MSCI for their view of the equity market in Saudi Arabia; and financial product providers can use MSCI as the basis for products that enable investors to participate in the performance of the Saudi stock market.”

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