It is a Saudi joint-stock company established in accordance with the provisions and regulations of the Capital Market Law and the Companies Law. Tadawul’s Board of Directors consists of nine members appointed by a decision of the Council of Ministers. The Board includes a representative of the Ministry of Finance, a representative of the Ministry of Commerce and Industry, a representative of the Saudi Arabian Monetary Agency, four representatives of licensed brokerage firms, and two representatives of listed joint-stock companies. The Company’s objectives include providing, preparing, and managing securities trading mechanisms; carrying out settlement and clearing operations for securities; depositing securities, registering their ownership, and publishing information related to them. It may also conduct any other activity related to any of the foregoing in accordance with the Capital Market Law and in a manner that achieves its objectives set out therein.