The stock exchange domain is by nature highly information technology intensive. The importance of timely and accurate information, systems stability and availability, for issuers, members, investors, and other market participants cannot be overstated.
Tadawul’s IT strategy is closely intertwined with the corporate strategy. All the IT initiatives are embedded within corporate strategic pillars and have been crafted to play a major role as enablers to the Stock Exchange. Since the Exchange is in a rapidly growing phase, major technology infrastructural enhancements have been done not just catering to current needs, but anticipating future growth as well.
Technology made a major contribution to the landmark event of the year, the Aramco listing. Planning and preparatory work for the initiative continued for a period of about two years prior to the event. Major technology enhancements were applied to all Tadawul systems and infrastructure to accommodate the massive expected increase in market activities and volume. Using Tadawul’s Quality Assurance & Readiness Framework, all technology changes went through an intensive testing and readiness exercises, with the participation of all stakeholders. Despite the demands of such a massive undertaking, other major technology initiatives such as Post-trade Technology Program (PTTP) and Tadawul New Data Centre setup ran in parallel as planned.