The Saudi Exchange announced an enhancement to Market Order behavior in the Main Market and Nomu – Parallel Market, as part of its continued efforts to develop the Saudi Capital Market. Effective Sunday, 4 October 2026, the updated mechanism will allow Market Orders to execute against available liquidity across multiple price levels within a maximum range of five ticks.
Following the change, a Market Order may continue executing against available liquidity across multiple price levels, within a maximum range of five ticks from the best price. Once the five-tick boundary is reached, or where no further liquidity is available within the range, any remaining unexecuted quantity will be converted into a Limit Order at the last executed price.
Accordingly, a Market Order may be executed across multiple price levels, depending on the quantities available in the order book and within the specified range.
The enhancement aims to improve the execution of Market Orders by providing broader access to available liquidity across eligible price levels, allowing a greater quantity of a Market Order to be executed immediately.
The enhancement aims to increase the quantity of a Market Order that may be executed immediately by allowing it to access additional available liquidity within the defined five-tick range. As a result, a Market Order may be executed across multiple price levels rather than at a single price level.
Mr.Mohammed Al Rumaih, CEO of the Saudi Exchange, said: “As part of our ongoing efforts to advance the Saudi Capital Market, the enhancement of the order execution mechanism in the Cash Market marks an important step in improving efficiency and supporting the evolving needs of investors and market participants. It also reflects our commitment to fostering a more transparent, reliable, and competitive market, while ensuring its readiness for future growth and development.”
The Market Order enhancement comes as part of the recent developments in the Saudi capital market, including structural enhancements to the derivatives market. It reflects Saudi Exchange’s continued commitment to advancing market efficiency, supporting liquidity, and broadening participation.
For more information on the updated Market Order behavior, please refer to the Factsheet [link].
