Interactive Brokers has announced a new partnership with SNB Capital, a leading financial firm licensed by the Saudi Arabian Capital Market Authority, to provide international investors with direct access to the Saudi stock market. The collaboration will allow Interactive Brokers’ clients to diversify their portfolios by trading in Saudi equities, global stocks, ETFs, and other securities all from a single platform.
Expanded Investment Options
Under this new agreement, clients of Interactive Brokers can now trade a variety of securities on the Saudi Exchange, including local stocks, real estate investment trusts (REITs), and exchange-traded funds (ETFs). The Saudi market, considered a critical gateway to the Gulf region, currently features over 415 listed securities spread across 22 sectors, offering a broad range of investment opportunities.
Strategic Partnership and Market Growth
Milan Galik, the CEO of Interactive Brokers, expressed his enthusiasm for the collaboration, stating: “Partnering with SNB Capital allows us to offer investors seamless access to Saudi equities, complementing our diverse global product range at competitive costs.”
The Saudi stock market is ranked among the top ten largest globally and is seen as a key entry point for investors looking to gain exposure to the region’s economic development. This initiative aligns with Saudi Arabia’s Vision 2030, a national plan aimed at diversifying the country’s economy and building a more advanced financial sector.
Managing Global Portfolios with Ease
The new offering enables clients to manage their Saudi investments alongside their global assets, which may include stocks, options, futures, and bonds. The partnership was officially launched with a bell-ringing ceremony at the Saudi Exchange in Riyadh, highlighting the strategic importance of the initiative.
Notable attendees at the event included Loai Bafaqeeh, Head of Securities at SNB Capital, and James Bradie, Senior Executive Officer of Interactive Brokers’ Dubai office. Rashed Sharif, CEO of SNB Capital, emphasized that this collaboration supports SNB Capital’s goal to create a more sophisticated financial market and attract a diverse investor base.
