Capital Markets Sustainability & Innovation Award

Evaluation

90% automatic · 10% by the award committee

Minimum score to win

70 / 100

Measurement period

The full financial year 2025 (or the latest financial year completed before nominations open); growth is measured against financial year 2024

Who can apply

• An exchange, depository and clearing house or capital market authority, or an initiative or solution run by one of them
• The solution or initiative has been in place for at least 12 months before the end of the measurement period
• Indicators are measured for the market or segment the nominee operates

Indicators and weights

1. Sustainability disclosure coverage

   Share of listed market capitalisation whose companies published a sustainability report or disclosure under the market’s guidance for the year

   15%
   Show points and evidenceHide

   Points

   • 75 – < 100 % 100
   • 50 – < 75 % 80
   • 25 – < 50 % 50
   • 0 – < 25 % 20

   Evidence

   List of disclosing companies with their market values and report links

2. Share of sustainable issuance

   Value of green, social and sustainability bonds and sukuk listed in the year as a percentage of all debt instruments listed in it

   15%
   Show points and evidenceHide

   Points

   • 30 – < 100 % 100
   • 15 – < 30 % 80
   • 5 – < 15 % 50
   • 0 – < 5 % 20

   Evidence

   The market’s annual listing statistics with issue classification

3. New listings

   New listings in the year (IPOs and direct listings on all market boards) as a percentage of companies listed at the start of the year

   15%
   Show points and evidenceHide

   Points

   • 10 – < 100 % 100
   • 5 – < 10 % 80
   • 2 – < 5 % 50
   • 0 – < 2 % 20

   Evidence

   The market’s annual report or listings bulletin

4. Equity settlement cycle

   Settlement cycle applied to equity trades at year end

   10%
   Show points and evidenceHide

   Points

   • T+1 or faster100
   • T+270
   • T+330
   • Longer than T+30

   Evidence

   Settlement rules in force at the depository

5. Turnover velocity

   Annual value traded divided by average market capitalisation for the year, as a percentage

   10%
   Show points and evidenceHide

   Points

   • ≥ 60 % 100
   • 30 – < 60 % 80
   • 10 – < 30 % 50
   • 0 – < 10 % 20

   Evidence

   The market’s annual statistics or Arab or World Federation of Exchanges data

6. Disclosures published in Arabic and English together

   Share of listed company disclosures posted on the market platform during the year (financial results and material announcements) that were published in Arabic and English on the same day; measures market transparency and openness through something the institution controls, instead of foreign investor share, which is driven by outside factors

   10%
   Show points and evidenceHide

   Points

   • 80 – < 100 % 100
   • 50 – < 80 % 80
   • 25 – < 50 % 50
   • 0 – < 25 % 20

   Evidence

   Report extracted from the disclosure platform with disclosures by language and publication date

7. Trading system availability

   Availability of the trading system during market hours during the period, excluding pre-announced maintenance

   10%
   Show points and evidenceHide

   Points

   • 99.9 – < 100 % 100
   • 99.5 – < 99.9 % 80
   • 99 – < 99.5 % 50
   • 95 – < 99 % 20

   Evidence

   Automated uptime monitoring report or the technology provider’s report

8. New market products

   Number of new product classes or market boards launched in the year (derivatives, ETFs, REITs, growth market, sukuk platform or similar)

   5%
   Show points and evidenceHide

   Points

   • ≥ 4 count 100
   • 2 – < 4 count 80
   • 1 – < 2 count 50
   • 0 – < 1 count 0

   Evidence

   Official launch announcements and the listing rules for each product

Scored by the award committee

1. Novelty and originality of the solution

   10%
   • First of its kind in the Arab region, with a measured, published effect on the card’s indicators100
   • First of its kind in the country, with a measured effect70
   • Adoption of a solution already in the market with documented improvements beyond copying40
   • A rollout similar to widespread solutions with no substantial improvement10

Each indicator gives 0 to 100 points; its share of the total is its weight. Ties are decided by the indicators listed first in the scorecard; payment or package never affects the score.

1. Done

   Nominations open

   26 October 2026 · 13:10

2. Upcoming

   Nominations close

   27 November 2026 · 01:10

3. Upcoming

   Judging starts

   27 November 2026 · 01:11

4. Upcoming

   Judging ends

   4 December 2026 · 13:00

5. Upcoming

   Results announced

   4 December 2026 · 13:10

Times are in Asia/Riyadh (UTC+03:00).