Tradeweb expands Saudi debt market access with domestic execution
17 September 2026 Saudi Arabia
Image: Tharshan/stock.adobe.com
Tradeweb has launched a local-to-local trading and post-trade workflow on its alternative trading system (ATS) for sukuk and Saudi Riyal (SAR)-denominated debt instruments in the Kingdom of Saudi Arabia.
Enrico Bruni, co-head of Global Markets at Tradeweb, says: 鈥淭he introduction of local-to-local transactions on the Tradeweb ATS reflects the close collaboration across the Kingdom鈥檚 financial ecosystem to support a deeper, more efficient secondary market for sukuk and SAR bonds.
鈥淏y connecting electronic execution with domestic post-trade infrastructure, we are making it easier for local institutions to access liquidity through a process built around their market conventions.鈥�
GIB Capital and Saudi Awwal Bank (SAB) executed the first transaction using the workflow, with post-trade processing and settlement completed locally through Saudi Arabia鈥檚 Securities Clearing Center Company (Muqassa) and Securities Depository Center Company (Edaa).
Abdulhadi Shahadah, head of asset management at GIB Capital, states: 鈥淥ur participation in the first local-to-local transaction on the Tradeweb Saudi ATS demonstrates our commitment to market innovation that helps advance the electronification of the Kingdom鈥檚 fixed income market.鈥�
Mohammed Al Shaikh, chief treasury and investment officer at SAB, adds: 鈥淎s part of SAB鈥檚 role in providing liquidity to the market, we see clear value in an all-in-one digital trading platform that provides clients and dealers with a seamless trade lifecycle.
鈥淪AB is pleased to lead and support the continued development of the Kingdom鈥檚 local fixed-income market.
鈥淭his further reflects our role in contributing to the objectives of Saudi Vision 2030 to develop the financial sector and enhance its efficiency.鈥�
The enhancement extends the Tradeweb ATS beyond the international investor access established at launch, creating a domestic route tailored to the account structures, settlement arrangements, and trading conventions of Saudi market participants.
It is designed to bring more of the local SAR bond and sukuk trading lifecycle into a connected electronic workflow, improving efficiency and providing a consistent audit trail from execution through post-trade processing.
Mansour Altais, chief of business development at Muqassa, comments: 鈥淢uqassa鈥檚 market infrastructure serves a pivotal role through its connectivity with Tradeweb, providing a structured post-trade route for trades executed between local participants on the Tradeweb Saudi ATS.
鈥淢uqassa will generate the required settlement instructions for Edaa, supporting an efficient post-trade and settlement process while aligning with the Kingdom鈥檚 established market infrastructure.鈥�
Enrico Bruni, co-head of Global Markets at Tradeweb, says: 鈥淭he introduction of local-to-local transactions on the Tradeweb ATS reflects the close collaboration across the Kingdom鈥檚 financial ecosystem to support a deeper, more efficient secondary market for sukuk and SAR bonds.
鈥淏y connecting electronic execution with domestic post-trade infrastructure, we are making it easier for local institutions to access liquidity through a process built around their market conventions.鈥�
GIB Capital and Saudi Awwal Bank (SAB) executed the first transaction using the workflow, with post-trade processing and settlement completed locally through Saudi Arabia鈥檚 Securities Clearing Center Company (Muqassa) and Securities Depository Center Company (Edaa).
Abdulhadi Shahadah, head of asset management at GIB Capital, states: 鈥淥ur participation in the first local-to-local transaction on the Tradeweb Saudi ATS demonstrates our commitment to market innovation that helps advance the electronification of the Kingdom鈥檚 fixed income market.鈥�
Mohammed Al Shaikh, chief treasury and investment officer at SAB, adds: 鈥淎s part of SAB鈥檚 role in providing liquidity to the market, we see clear value in an all-in-one digital trading platform that provides clients and dealers with a seamless trade lifecycle.
鈥淪AB is pleased to lead and support the continued development of the Kingdom鈥檚 local fixed-income market.
鈥淭his further reflects our role in contributing to the objectives of Saudi Vision 2030 to develop the financial sector and enhance its efficiency.鈥�
The enhancement extends the Tradeweb ATS beyond the international investor access established at launch, creating a domestic route tailored to the account structures, settlement arrangements, and trading conventions of Saudi market participants.
It is designed to bring more of the local SAR bond and sukuk trading lifecycle into a connected electronic workflow, improving efficiency and providing a consistent audit trail from execution through post-trade processing.
Mansour Altais, chief of business development at Muqassa, comments: 鈥淢uqassa鈥檚 market infrastructure serves a pivotal role through its connectivity with Tradeweb, providing a structured post-trade route for trades executed between local participants on the Tradeweb Saudi ATS.
鈥淢uqassa will generate the required settlement instructions for Edaa, supporting an efficient post-trade and settlement process while aligning with the Kingdom鈥檚 established market infrastructure.鈥�
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