tadawul to implement new settlement cycle for listed securities on sunday
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Tadawul to implement new settlement cycle for listed securities on Sunday

Egypt Today, egypt today

Egypt Today, egypt today Tadawul to implement new settlement cycle for listed securities on Sunday

Khalid Abdullah Al-Hussan, chief of the Tadawul
Riyadh - Arab Today

The Saudi Stock Exchange, known as Tadawul, announced here on Thursday that it will implement the “T+2” settlement cycle for listed securities with effect from Sunday.
Speaking at a news conference held at the Tadawul Media Center, Khalid Abdullah Al-Hussan, chief executive of Tadawul, told reporters that it is being implemented as part of a strategy to support development of the capital market.
“This step further aligns the Saudi capital market with international standards, benefiting both domestic and foreign investors,” he said.
“We are continuing to implement new initiatives to diversify and enhance opportunities for investors. The T+2 settlement cycle will bring Tadawul’s trade settlement cycle into line with standard clearing and settlement practices in a number of developed markets,” he stressed.
Al-Hussan pointed out that this is a further step in the effort to realize the Vision 2030 plan to diversify the Kingdom’s reliance on oil and make its equity market more attractive to local and foreign investors.
Last year in May, Tadawul announced that it has obtained regulatory approval to amend the settlement cycle of listed securities in the equity market within two subsequent working days of the trade execution date.
Furthermore, Tadawul announced the publication of draft rules for the T+2 settlement cycle for public consultation, involving concerned and interested parties, along with the QFI Information Memorandum, which includes the existing structure and enhancements to the Saudi Capital Market.
The new settlement cycle will apply to transactions of securities listed in the market across all types — stocks, sukuk, bonds, exchange-traded funds (ETFs), tradable rights, in addition to over-the-counter transactions (OTC). This will in turn unify the settlement duration for all types of listed securities.
In regard to the T+2 settlement cycle’s impact on traders, Abdullah Al-Khalifah, chief of business development at the Securities Depository Center, said: “All types of securities’ transactions are completed after two business days following the transaction execution date. Traders will still have purchasing power directly upon executing transactions with no need to wait for completing the settlement of securities.”
The objective of the T+2 settlement cycle is to increase the level of asset safety for investors by providing enough time to verify transactions and deal with errors should they occur.

Source: Arab News

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

tadawul to implement new settlement cycle for listed securities on sunday tadawul to implement new settlement cycle for listed securities on sunday



GMT 06:29 2011 Monday ,14 November

Matthew cruises to win at Ochoa Invitational

GMT 03:34 2017 Wednesday ,22 March

Tillerson to skip NATO meeting next month

GMT 13:44 2013 Friday ,15 March

Israel suppress Palestinian demonstrations

GMT 16:15 2017 Monday ,01 May

Moroccan Workers’ Syndicate

GMT 11:56 2016 Wednesday ,12 October

Toyota, Suzuki eye partnership as industry consolidates

GMT 15:42 2011 Thursday ,23 June

Express checks in with foursquare

GMT 10:49 2017 Sunday ,13 August

Car rams into crowd at violent Virginia rally

GMT 17:45 2013 Sunday ,20 October

5 Indian spices that are good for your health

GMT 08:41 2012 Saturday ,15 September

Italian magazine: will print Kate topless snaps

GMT 08:02 2012 Tuesday ,05 June

Zoe Saldana in Prabal Gurung

GMT 06:11 2012 Saturday ,15 September

Tunisia’s Media Conflict: Journalists fight for freedom

GMT 14:35 2015 Friday ,24 July

Awqaf Minister hails New Suez Canal project

GMT 16:34 2017 Thursday ,28 December

Hitler's Nazi-parade Mercedes set

GMT 11:22 2011 Monday ,10 October

Paul McCartney to play in Moscow in December

GMT 05:17 2015 Friday ,25 September

Pope expresses solidarity with Muslims after stampede

GMT 05:44 2012 Saturday ,21 April

ATV engine 95 HP

GMT 03:01 2011 Monday ,19 September

Laughter, tears at US television\'s Emmy awards

GMT 12:04 2012 Wednesday ,07 March

6 Music animation draws on 10 years of eclectic radio

GMT 01:00 2015 Sunday ,05 April

Barzani congratulates Abadi on Tikrit victory

GMT 13:24 2015 Thursday ,15 October

Tesla installs 'autopilot' update

GMT 06:17 2012 Monday ,02 January

Countries across the world celebrate the New Year

GMT 04:07 2016 Tuesday ,07 June

For new era of self-driving cars

GMT 08:21 2017 Saturday ,23 December

Saudi-Sudanese Deal to Ease Transfers

GMT 11:08 2017 Thursday ,21 December

Asian markets mostly down as tax cut euphoria wanes
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday