Accessing and utilising data effectively is key to success in capital markets, enabling investors to make informed and timely decisions. Industry experts emphasised this during the Capital Markets Forum in Riyadh on February 18, 2025, highlighting how real-time data is crucial for investors, brokers, asset managers and financial institutions.
Data as a Market-Defining Asset
Mehdi Miri, CEO of DirectFN, described data as the new “alpha,” stating that those who master it will shape and lead the market.
“For investors, data enables smart and fast decision-making. Today, real-time AI-powered data is essential, offering insights and foresight to spot market opportunities before they unfold,” said Miri.
Brokers and banks increasingly rely on advanced analytics to refine trading and hedging strategies, enhancing execution processes and reducing risk exposure.
Innovation and Regulation in Data Access
Yazeed Al-Domaiji, CEO of Wamid, a subsidiary of Saudi Tadawul Group, underscored the importance of balancing data accessibility with regulatory compliance.
“Capital markets have been data-driven for over a century. Every market participant depends on data for decision-making. Our role is to innovate while upholding regulations.”
Wamid recently partnered with Google, aligning with Saudi Arabia’s strategic vision to integrate data and artificial intelligence (AI) into the financial sector. The company is focusing on two key areas:
- Data Solutions – Providing high-quality, accessible market data tailored to issuers, capital market institutions and investors.
- Infrastructure Technology – Expanding institutional investor access, especially for high-frequency trading (HFT), which currently accounts for 25% of Saudi Arabia’s daily trading volume.
The Future of Data Monetization and Trading
Miri stressed that data is now a strategic asset, evolving from raw numbers into a monetized, on-demand resource.
“This is a ‘Spotify moment’ for data. Just as music streaming transformed the industry, we are now converting raw market data into a revenue-generating model.”
The shift towards data trading could establish it as a new asset class, much like carbon trading was unimaginable decades ago. However, data protection regulations must evolve alongside these developments.
Data as the New Currency
Al-Domaiji predicted that data will become the ‘new currency’ of capital markets, reinforcing its value as a tradeable resource.
Doug Peterson, Board Member at S&P Global, highlighted data privacy concerns:
“The key question in governance is: How will we protect data? If data is used in a model, it becomes part of that system indefinitely and data owners must ensure fair compensation.”
Data-Driven Growth in Fixed Income Markets
Katharine Furber, Global Head of Emerging Markets Trading at Bloomberg LP, discussed data’s transformative role in the fixed income space.
“Beyond pricing and trading data, we now analyse market depth, counterparties’ responses, and trade behaviours to construct richer insights.”
The Saudi capital market is rapidly evolving into a data-driven ecosystem, with AI, high-frequency trading, and real-time analytics shaping its future. As Saudi Arabia positions itself as a global financial hub, leveraging cutting-edge data solutions will be critical for investors, institutions and regulators alike.
