Key global exchanges are fighting a battle to secure the listing of world’s biggest IPO next year; Saudi oil market giant Aramco. While London’s Financial Conduct Authority (FCA) is looking to amend and bend the current rules in order to secure the listing of 5 percent fee float of Aramco, Saudi Arabia’s powerful crown Prince is reported to have a preference for the United States for political reasons. Hong Kong is also being considered for the listing.

Saudi Arabia’s powerful crown prince Mohammad bin-Salman rapidly rose to prominence after his father became the King when Saudi Arabia’s long-term ruler King Abdullah died in 2015. He replaced Mohammad bin-Nayef as the Crown prince in a rare reshuffle earlier this year and is currently managing the position of the King, who is vacationing in Morocco. The Prince is supervising the Vision 2030 that includes the listing of Aramco.

While a possible listing on the NYSE could give Saudi Aramco access to more liquidity, but the stricter disclosure rules in New York could also force Saudi Arabia to share information that its rulers consider sensitive, including oil reserves and forecasts on oil prices and oil demand, which would be crucial in determining how much Aramco is really worth.