What is open for comment
The Capital Market Authority has opened a public consultation lasting 30 days and closing on 24 October 2026. The draft under review would cap algorithmic orders at 20 for each executed trade in Main Market securities. The Very High Liquidity category would be excluded from that cap. The final provisions are intended to take effect on 1 November 2026.
Duties the draft would place on institutions
Under the draft, institutions would also have to keep supervisory systems in place, test algorithms before they are used, and be able to supply related data to the Capital Market Authority and the Saudi Exchange when asked.
Why this matters for technology teams
The consultation sets a near-term reference point for algorithmic and electronic trading on the Saudi Exchange (Tadawul). A ceiling of 20 algorithmic orders per executed trade would link order-generation controls to actual executions on Main Market securities, while the Very High Liquidity exclusion means those controls would need to reflect liquidity category.
The intended effective date of 1 November 2026 comes soon after comments close on 24 October 2026. Teams responsible for trading technology, supervision, and operations may therefore need to track the adopted text and align pre-use testing, supervisory systems, and on-request data delivery to both the Authority and the Saudi Exchange with that timetable.
Sources
Capital Market Authority, 24 September 2026.