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Become a Member of the Exchange


The Saudi Stock Exchange (Tadawul) provides its members great business opportunities that are coupled with state-of-the-art technology and advanced services. 

How To Become An Exchange Member: 

To become a member, a valid license from the Capital Market Authority must be obtained:

  • Submit a written application for admission to the Capital Market Authority (CMA). 
  • The  Applicant should be established in the Kingdom.
  • The Applicant must hold a valid license from CMA.

For more details, please refer to the Authorized Persons Regulations outlined by the Capital Market Authority (CMA) click here.

After obtaining the CMA authorization, member must carry five steps to fully complete the membership process:

  1. Preparation.
  2. Development & Testing.
  3. OMS (Order Management System) Certification.
  4. Final Preparation.
  5. Soft Launch and Go Live.

Step One: Preparation

In this initial step, the member is expected to provide the following:

  • A copy of commercial  register , articles of association and CMA license.
  • Member location and contact details.
  • A letter from the clearing bank of choice.

Tadawul will be appointing a relationship officer who will be leading the membership enrollment along with the member. The officer will be preparing the overall membership enrollment plan with the steps highlighted in these steps.

Step Two: Development & Testing

Testing covers member connectivity through the Order Management System (OMS) and/or any other applications or interfaces that may get connect to Tadawul’s environment. To this end, Tadawul will provide OMS certification scripts so the member can start practicing the scenarios and ensure their readiness for final certification. Tadawul provides a fully functional test environment that enables new member to rehearse and test all of their applications and connections. As for data feed, members have the option to connect directly to Tadawul or through a data provider. If the member decided to receive the feed directly from Tadawul, market data feed testing will be performed.

Step Three: OMS Certification

This phase covers the final technical test by Tadawul. It is intended to ensure that the members systems comply with Tadawul requirements. The OMS system can be obtained from any OMS provider in the market.

Step Four: Final Preparation

After completing both technical and business requirements, Tadawul will carry security audit, site visit, and eventually, a sign-off document.

  • Security Audit: the member is required to conduct a third party security audit. The audit can start along with preparation phase. 
  • Site Visit: this step is done right after the successful completion of the OMS certification. Tadawul delegates will visit the member to conduct a physical check of the member’s site.
  • Tadawul Information License Agreement (TILA): the member has to make sure to sign TILA before going live. Upon request, the member can have a copy of the agreement during development and testing phase for review.
  • Sign-off Document: following the completion of all OMS certification related activities; the member must confirm their readiness to launch their business on Tadawul systems by signing “Sign-Off” document. The main purpose of the “Sign-Off” document is to get a formal confirmation from the member to go live.

Step Five: Soft Launch and Go live

After completing all Tadawul membership requirements, newly enrolled member must specify their needs for any backup trade workstation as well as back office users authorized to operate the backup trade workstation. Member will be required to submit a copy of the CMA Business Commencement Permission Letter to Tadawul.

For more information on how to Become a Member of the Exchange, please call us at +966 92000 1919. You may also contact us via email at csc@tadawul.com.sa