CA Cheuvreux Rolls out Saudi Execution via Swap Products

Crédit Agricole Cheuvreux has started offering its institutional investor clients access to the Saudi Arabian stock market through swap products. CA Cheuvreux is among the first brokers to offer market access product on individual Saudi stocks since the Kingdom opened up to international investors in August 2008. Saudi Arabia’s capital market, which represents the largest in the Middle East and the 11th largest in the world, has increasingly gained interest from global investors.

“By allowing access to GCC’s principal capital market we are satisfying an enormous interest from our clients who are looking to invest in the region,” said Ian Peacock, global head of execution services at CA Cheuvreux, in a press release. “As capital flow continues to increase in the Saudi market, CA Cheuvreux has the local knowledge and broker presence to provide its investors with the vital expertise necessary to properly invest in Tadawul listed companies,” he said.

CA Cheuvreux's executing broker on the Saudi Arabian market is Fransi Tadawul, one of the largest local brokers and a subsidiary of Banque Saudi Fransi (31.1% affiliate of Calyon). Under the regulatory guidance of the Capital Market Authority (CMA), local authorised entities such as Fransi Tadawul are now able to transfer the economic performance of Saudi stocks to non-GCC investors through swap agreements.

“This new development complements our strategy of providing our institutional clients with a full range of services and support, from research to execution, throughout the Gulf Region,” notes François Simon, Chairman and CEO of CA Cheuvreux, in the release. Through its branch in Dubai, opened in 2008, CA Cheuvreux already offers execution services on the other Middle Eastern markets. Its local analysts and sales teams provide developed expertise on Dubai, Abu Dhabi, Qatar, Saudi Arabia, Bahrain, Oman and Kuwait.