April 25, 2019 / 8:31 AM / a year ago

Saudi Arabia reduces fees, trading commissions for local bond market-statement

RIYADH, April 25 (Reuters) - Saudi Arabia's Capital Market Authority (CMA), the country's bourse and its Debt Management Office (DMO) announced in a joint statement on Thursday reduced fees and commissions to encourage secondary market trading of debt.

The three entities said trading commissions for the Tadawul, the Middle East's largest exchange, and the CMA had been reduced, while fees for new offerings and annual registration charges for issuers were also reduced.

In addition, Tadawul's annual listing fees and fees for subsequent issuances fees were also reduced.

The DMO also reduced the of par values for government issued sukuk from one million Saudi riyals to one thousand, the statement said, signalling further government efforts to attempt to facilitate access to the bond market for retail investors. (Reporting by Saeed Azhar and Stephen Kalin; Writing by Hadeel Al Sayegh; Editing by Janet Lawrence)

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