CMA approves Muqassa’s clearing procedures

15/01/2020 Argaam

 

The Capital Market Authority (CMA) approved the Securities Clearing Center Co.’s (Muqassa) rules, clearing procedures and glossary of defined terms used in the exchange rules, the center said in a bourse statement.

 

The Securities Clearing Center rules and procedures aim to enable Muqassa’s role as a Central Counterparty (CCP) clearing house in the Saudi Capital Market, regulate the clearing members responsibilities, the statement added.

 

The rules and procedures shall be effective on January 15, 2020.

 

Earlier this week, The Capital Market Authority (CMA) approved authorizing the Securities Clearing Center Co. (Muqassa) to provide securities clearing services in the Kingdom.

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