Data Sources

Data Provided

• Listed company profiles and issuer metadata
• Corporate announcements and filings
• Board of directors and governance disclosures
• Insider trade notices
• Substantial holder notices

Update Frequency

Annual reports: yearly. Announcements: as filed by each exchange.

Method

Company profile pages scraped from DFM, ADX, and ASE websites. PDF annual reports downloaded and extracted using AI (Claude Haiku) for board composition, remuneration, attendance, auditor fees, and shareholder data.

Known Limitations

Exchange website structures vary. ADX has Cloudflare protection limiting automated access. ASE (Jordan) data is available as HTML tables on exchange.jo. Not all exchanges provide English-language filings.

Data Provided

• Daily stock prices (OHLCV)
• Income statements, balance sheets, cash flow statements
• Company officer names and roles
• GICS sector/industry classification
• Dividend history
• Market capitalization

Update Frequency

Prices: daily (may be delayed up to 24h). Financials: quarterly/annual refresh.

Method

Yahoo Finance v8 chart API (prices, dividends) and v10 quoteSummary API (financials, metadata). Exchange-specific suffixes: .DU (DFM), .AD (ADX), .AM (ASE), .KW (BK), .QA (QSE), .OM (MSX), .BH (BHB), .SR (TDWL), .CA (EGX). TradingView Scanner API used for issuer metadata and snapshot metrics where Yahoo coverage is limited (ADX, EGX, BK, QSE, BHB).

Known Limitations

Coverage is strongest for DFM and Kuwait tickers. ADX, ASE, and Oman tickers have limited Yahoo coverage. EGX (Egypt) has price and dividend data via Yahoo but no financials or director data (v10 quoteSummary returns 404). Yahoo officer data may lag board changes. Some smaller GCC companies have no Yahoo coverage at all.

Data Provided

• Board of directors (names, roles, independence, committees)
• Executive compensation
• Non-executive director fees
• Board meeting attendance
• Auditor fees and non-audit fee ratios
• Top 20 shareholders
• Director qualifications and biographies
• Related party transactions

Update Frequency

Annually, extracted after each company publishes their AR.

Method

PDFs downloaded from company IR pages or exchange websites. Two extraction methods: (1) Text extraction via pdfjs-dist for financials and English content. (2) Vision extraction via Claude's native PDF document support for governance data — Arabic-only sections, scanned PDFs, complex table layouts. Governance pages identified via keyword scoring, extracted into smaller PDFs via pdf-lib. Supports Arabic and English bilingual reports.

Known Limitations

Coverage: 50 AR URLs across DFM, ADX, ASE, BK, QSE. TDWL, BHB, MSX, BIST, ISX have 0 ARs. Exchange governance APIs (DFM, ADX, ASE) return 403/404. Annual report PDFs are the only viable source for governance details (attendance, committees, exec comp, auditor fees).

Data Provided

• Monthly Member Activity Reports — broker-level trading value, volume, and trades
• Market segment breakdown (Main Market, Nomu Parallel Market, ETFs, Sukuk & Bonds, CEFs, Derivatives)
• Internet (retail) vs total channel split per broker
• Foreign flow proxy (international bank trading share)
• Market concentration metrics (HHI, top-3/top-5 share)

Update Frequency

Monthly. Published by Saudi Exchange after each calendar month.

Method

Member Activity Reports extracted from Saudi Exchange public disclosures. Tabular data parsed into broker_activity table. 33 member firms classified by type (international bank, Saudi bank subsidiary, independent brokerage). Internet-vs-total split used as institutional/retail flow proxy.

Known Limitations

Data is aggregated at broker level, not per-company. Reports are published with a lag (typically 2-4 weeks after month end). Historical data requires manual collection of past reports. Currently Saudi Exchange (TDWL) only — other GCC exchanges may publish similar reports.

Data Provided

• Accounting Quality Score (Beneish M-Score, Sloan Accruals)
• Dividend Safety Grade (payout ratio, coverage, streak)
• Fair Value Estimation (DCF, DDM, EV/EBITDA)
• Financial Distress (Altman Z-Score, Piotroski F-Score)
• Shariah Compliance Screening (AAOIFI standards)
• Board Demographics (age, gender, independence, tenure)
• Governance Risk Scoring (per-exchange governance code mapping)

Update Frequency

Recomputed on each page load from underlying data.

Method

Open-source algorithms with disclosed methodologies. No proprietary or black-box scoring. All formulas are documented on each insight page. Shariah screening uses AAOIFI-standard financial ratios.

Known Limitations

Models use simplified assumptions. Fair value estimates should not be used as the sole basis for investment decisions. Shariah screening does not constitute a fatwa.