The Saudi Exchange is a fully owned subsidiary by Saudi Tadawul Group and was established in March 2021 following the transformation of the Saudi Stock Exchange (Tadawul) into a holding company, Saudi Tadawul Group. As Saudi Arabia’s dedicated stock exchange and the largest stock exchange in the Middle East, the Exchange carries out listing and trading in securities for local and international investors. The official source of all market information, Saudi Exchange is instrumental to achieving long-term growth plans for the Group and providing market participants with attractive and diversified investment opportunities. Saudi Exchange is the 9th largest stock market among the 67 members of the World Federation of Exchanges and is the dominant market in the Gulf Cooperation Council (GCC). It is the 3rd largest stock market amongst its emerging market peers, is an affiliate member of the International Organization of Securities Commissions (IOSCO), the World Federation of Exchanges (WFE), and the Arab Federation of Exchanges (AFE). The legal status, duties, and responsibilities of the Exchange and Depository Center are explicitly defined in the Capital Market Law (CML) issued by Royal Decree Number (M/30), dated on June 16, 2003.