SASO has praised the CMA’s decision that modified the trading system in accordance with the timeliness approved by the Saudi standards, in order to reinforce the principle of fairness and transparency for all market members and to ensure the timing of the management system.

The Saudi Standards called on national companies to set the timing of their management system, according to the timing approved by them via the link: http://time.saso.gov.sa, indicating that setting the timing according to the national reference time helps companies and investors to ensure the accuracy of their timing during trading operations, especially market opening and closing times.

The Saudi standards had exerted great efforts to build an accurate national system, which contributed to the accession of the Makkah Clock to the World Time Network (UTC) and obtained international recognition for the Saudi Time, thus making the Kingdom of Saudi Arabia one of the components of the global time system.

The national reference time allows the Kingdom to benefit from the standardization of time in all vital security and economic work

activities, which require accurate time, such as banking systems, the financial market, airports, central flight reservations, train operating systems, television channels, and others.

It is noteworthy that the National Laboratory for Frequency and Time is equipped with high-precision measuring devices, and recognized by the International office of Weights and Measures (BIPM) for the national standard for measuring time, and it can transmit standard time signals using the Internet to time users using the (NTP Network Time Protocol) system accurately up to 5 milliseconds.