Tradeweb Markets has expanded its Saudi Arabia Alternative Trading System with a new domestic execution workflow for local investors, marking a significant step in electronifying the Kingdom’s fixed-income market. GIB Capital and Saudi Awwal Bank executed the first local-to-local transaction on September 17, 2026, completing the trade lifecycle through post-trade processing with Muqassa and securities settlement via Edaa.
- Platform Launch: October 2025, following Capital Market Authority selection
- Assets Supported: Sukuk and Saudi Riyal-denominated debt instruments
- First International Trade: BlackRock and BNP Paribas (inaugural transaction)
- Daily Trading Volume: Average $2.9 trillion notional value across Tradeweb platforms
The new domestic route extends the ATS beyond international investor access by tailoring execution to Saudi market conventions, account structures, and settlement arrangements. The workflow creates a connected electronic pathway from execution through post-trade processing, improving operational efficiency and maintaining audit trails for local dealers and professional investors.
By 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.
Enrico Bruni, Co-Head of Global Markets at Tradeweb, stated the enhancement reflects collaboration across the Kingdom’s financial ecosystem to support a deeper secondary market. Saudi Awwal Bank noted the platform provides clients and dealers with a seamless trade lifecycle while supporting Saudi Vision 2030’s objective to develop the financial sector. The workflow is available to eligible professional investors and local dealers meeting applicable onboarding requirements from Tradeweb, Muqassa, and Edaa.
Enrico Bruni, Co-Head of Global Markets at Tradeweb. Source: LinkedIn
