Tadawul, Muqassa, Edaa adopt amended exchange rules

Tadawul trading screen

The Saudi Exchange Co. (Tadawul), the Securities Clearing Center Co. (Muqassa), and the Securities Depository Centre Co. (Edaa) announced that the Capital Market Authority (CMA) approved on Oct. 14 the amended derivatives exchange trading and membership rules and the securities clearing center rules.

Meanwhile, Edaa announced that the market regulator approved the amended glossary of defined terms used in the exchange rules on Oct. 14 and the amended securities depository center rules on Oct. 16.
 

Tadawul also announced that its board of directors approved on Aug. 28 the amended derivatives trading and membership procedures and the amended trading and membership procedures.
 

Additionally, Muqassa stated that its board of directors approved on Aug. 28 the amended cash market clearing procedures and the amended derivatives clearing procedures.

Lastly, Edaa’s board approved on Sept. 5 the amended securities depository center procedures.
 

The above amendments will take effect from the publication date or the effective dates set in the documents.
 

According to Tadawul, these changes are part of the post-trade and omnibus accounts projects in the debt instruments market. They aim to enhance the debt instruments market through organizing and launching omnibus accounts for the deposit of non-transferable debt instruments, as well as clarifying the mechanism of omnibus accounts.