By: Aseel Bin Taaleb

Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) will begin to apply the Global Industry Classification Standard (GICS) beginning next week, trade manager Tareq Al Moshref told Mubasher on Tuesday.

Al Moshref explained that applying the GICS will divide sectors into 20 sectors with the right placement for every stock, adding that some current sectors may not appear until listed companies join these sectors.

He also indicated that these stadards will be applied on the parallel market (Nomu), which will be launched on 26 February.