Brokerage Houses

brokerage houses: But analysts said they did not expect a sudden rush of funds after the opening of the Arab world largest exchange, the Tadawul All-Shares Index, in Riyadh, according to Deutsche Welle. The stock exchange said in a note that "qualified foreign investors could commence dealing in listed shares." The note was addressed to foreign banks, brokerage houses, fund managers and insurance companies based outside the Gulf. The move is largely seen as a bid by the conservative Islamic kingdom to further open up to the global economy. Strings attached But Capital Economics researchers warned there would be heavy restrictions in place concerning foreign equity ownership. 0:00:00 0:00:00Saudi must diversify after negative outlook Qualified investors must have a five-year track record and at least 18.75 billion riyals under their management. Market experts assumed that Saudi Arabia move was not about boosting investment, with market capitalization exceeding $500 billion. Also, each investor can hold no more than 5 percent of a given stock. (news.financializer.com). As reported in the news.