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2024-10-09
News Interactive Brokers
Interactive Brokers and SNB Capital join forces for investor access to the Saudi Arabian market

Interactive Brokers and SNB Capital join forces for investor access to the Saudi Arabian market

Interactive Brokers, a global automated electronic brokerage, and SNB Capital, Saudi Arabia’s leading broker and investment bank, have announced a major partnership enabling eligible international investors to trade directly on the Saudi Exchange via the Interactive Brokers platform. This alliance marks Interactive Brokers as the first global broker to provide foreign investors with direct access to Saudi-listed securities, expanding investment opportunities in one of the world’s largest and most dynamic markets.

With this new collaboration, Interactive Brokers clients can now invest in Saudi stocks alongside a range of global assets, including options, futures, bonds, funds, and more, all accessible from a single, integrated platform. The official launch of the partnership took place today at the Saudi Exchange in Riyadh, with SNB Capital’s Head of Securities, Loai Bafaqeeh, and Interactive Brokers’ Dubai-based Senior Executive Officer, James Bradie, attending the ceremony.

The Saudi Exchange, one of the world’s top ten stock markets within the World Federation of Exchanges, stands as the leading exchange in the Gulf Cooperation Council (GCC) region. Hosting over 415 listed securities across 22 diverse sectors, the Saudi market provides a rich array of investment options, from real estate investment trusts (REITs) to exchange-traded funds (ETFs) and a variety of stocks. Through this partnership, clients of Interactive Brokers have the opportunity to diversify their portfolios by investing in the largest stock exchange in the Middle East.

“We are excited to work with SNB Capital to allow investors seamless access to Saudi equities in addition to our extensive range of global markets, all at a low cost,” said Milan Galik, CEO of Interactive Brokers. This partnership reinforces Interactive Brokers' mission to provide investors with broad access to international markets.

Saudi Arabia, the region’s largest economy and a key financial player, is undergoing transformative economic changes under the Vision 2030 initiative, which seeks to advance the nation’s financial sector and create a competitive, diversified economy. Rashed Sharif, CEO of SNB Capital, remarked, “Our partnership with Interactive Brokers aligns with our role as Saudi Arabia’s national financial leader and supports the goals of Saudi Vision 2030’s Financial Sector Development Program (FSDP) to establish a sophisticated financial market and attract a diverse investor base.”

This collaboration highlights a significant step in broadening investment access to the Saudi market, allowing Interactive Brokers clients worldwide to participate in the region's growth and offering global investors a direct link to one of the most promising financial markets.

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