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* HSBC traded as direct foreign investor on Mon - statement
* Bank first to receive qualified investor licence - sources (Adds details from sources, background)
DUBAI, June 15 (Reuters) - HSBC Holdings hasreceived a qualified foreign investor licence in Saudi Arabiaand traded shares on the bourse on Monday, the first day thatdirect foreign investment was allowed, the bank told Reuters.
Saudi Arabia's Capital Market Authority has not yetannounced any licence awards, but stock exchange Chief ExecutiveAdel al-Ghamdi told Reuters in London that the first transactionby a qualified foreign investor was due to take place on Monday.He did not name the investor.
"Today marks one of the most important moments in thehistory of Saudi financial markets and HSBC is pleased to haveplayed a role in supporting their development," HSBC said in awritten response to Reuters questions.
Previously, foreigners could only buy stocks in the $564billion market, the largest in the Arab world, indirectlythrough channels such as swaps. Riyadh is opening the market asa way to expose companies to market discipline and diversify itseconomy beyond oil.
Two sources familiar with the matter said HSBC was the firstinstitution to get a foreign investor licence and was tradingwith the identity code of 0001, supporting the idea it hadreceived the first licence.
One of the sources added it had traded in blue-chip stocks,without detailing which ones or the size of the trades.
Ghamdi also said regulators were processing six applicationsfrom "very large institutions" and "there might be a spike ofinvolvement from foreign investors over the next two or threemonths". (Reporting by Olzhas Auyezov, David French and ArchanaNarayanan; Editing by Andrew Torchia and Susan Thomas)
