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The Saudi Stock Exchange (Tadawul) Announces the Amendment of the Settlement Cycle of Listed Securities in the Equity Market
Jun 13, 2016
The Saudi Stock Exchange (Tadawul) announces the regulatory approval of the Capital Market Authority to amend the settlement cycle of listed securities in the equity market to be within two subsequent working days of trade execution (T +2). This change will take place during the first half of 2017.
 
These substantial modifications will include the elimination of cash prefunding requirement by the exchange, activation of covered short selling with the ability to lend and barrow securities, enhanced custody controls and the introduction of proper delivery versus payment (DVP) and collateralization setup as per common and familiar standards and in line with Saudi laws. The change is part of several initiatives to develop the Saudi Capital Market especially around the post trade infrastructure to be in line with international standards. It will enhance the depth of the market, allows greater effectiveness and efficiency of post trade processes and reduce the market systemic risk.
 
Tadawul will begin the market readiness procedures with the market participants and stakeholders in the coming few weeks which shall include more technical and awareness details.

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