Tadawul has finalized arrangements to start disseminating the Theoretical Open price and volume during the pre-open market state, starting from October 16th, 2016. This step is in line with Tadawul’s goal to increase market transparency and information accessibility for investors.
The Theoretical Open Price (TOP) gives an indication to the expected open price of a security during the market “Pre-Open State”. In other words, (TOP) is the price at which opening trades would occur should the market open at that very moment, and is sometimes referred to as “Equilibrium” or “Indicative Price”. Moreover, the volume corresponding to TOP is called the Theoretical Open Volume (TOV), which is the volume of trades that would theoretically be executed at the TOP .
Both TOP and TOV will be disseminated during the market pre-open state, starting at 9:30 am and finishing at 9:59 am. Investors will be able to access information related to TOP and TOV through Tadawul’s website, and through services and products offered by Tadawul’s authorized Information Providers and Members.
For a list of Tadawul’s authorized Information Providers, please click here; and for a list of Tadawul’s authorized Members, please click here;
For more information regarding TOP and TOV, please click here to view the frequently asked questions.
