Morgan Stanley Gets Market Maker Nod for 3 Saudi Stocks

The Saudi Exchange approved Morgan Stanley Saudi Arabia as a market maker for three stocks, including Jazan Development and Investment Co., while ending the firm's market-making activity in three others. Tadawul said market makers must provide continuous bid and ask quotes to improve liquidity. The exchange did not name the other stocks in either the approval or the termination. Morgan Stanley has been expanding its presence in Saudi Arabia's capital markets. The bank's Alpha Score on AlphaScala stands at 62 out of 100, a moderate rating, reflecting its position in the financials sector. The approvals are part of Tadawul's broader push to deepen liquidity through designated market makers.