Wednesday January 19 2022
News Source: Global Exchanges
Focus: Stock Exchange Regulation
Country: Saudi Arabia
On 18th January 2022, the Saudi Stock Exchange (Tadawul), the Securities Clearing Centre (Muqassa), and the Securities Depository Centre (Edaa) announced that the Board of the Capital Market Authority (CMA) has issued its Resolution Number (1-2-2022) Dated 30/5/1443H corresponding to 3/1/2022G which includes the following:
First: The approval of the below Exchange Rules and procedures:
- The amended Trading and Membership Rules (click here)
- The amended Securities Clearing Centre Rules (click here)
- The amended Securities Depository Centre Rules (click here)
- The amended Short Selling Regulations (click here)
- The amended Securities borrowing and Lending Regulations (click here)
- The amended Trading and membership Procedures (click here)
- Cash Market Clearing Procedures (click here)
- Depository Centre Procedures (click here) and
- the amended Glossary of Defined Terms used in the Exchange Rules (click here).
Second: Cancelling the following documents -upon the effective date referred to below-:
- The Exchange and Centre Procedures.
- Orders Aggregation Accounts Regulations; and
- Regulations and requirements of the depository Centre for depository receipts issued out of the kingdom in accordance with the instructions on issuing depository receipts out of the kingdom.
As the provisions of the Exchange and Centre Procedures have been included in two separate documents, the Depository Centre Procedures draft and the amended Trading and Membership procedures draft (based on specialization). Moreover, the provisions of the Regulations and requirements of the depository Centre for depository receipts have been included in the amended Securities Depository Centre Rules draft. as to the orders aggregation accounts regulations, it will not be effective anymore in accordance with the approved business model.
These amendments aim to increase the efficiency and attractiveness of the financial market for domestic and international participants and investors, while enhancing the post trade infrastructure to provide safe and trustworthy financial framework.
Click on the above link for further information