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TADAWUL PUBLISHES DRAFT RULES FOR THE T+2 SETTLEMENT CYCLE FOR PUBLIC CONSULTATION

The Saudi Stock Exchange “Tadawul” is keen to involve all concerned and interested parties to participate and share their observations on the regulatory frameworks for Tadawul’s projects. This been said, Tadawul announces publishing the T+2 Settlement Cycle Draft Rules for public consultation, which can be viewed through the following links: 

1.    Securities Depository Centre Rules (Amended) Click Here
2.    Glossary of Defined Terms Used in the Exchange Rules (Amended) Click Here
3.    Short Selling Regulations Click Here
4.    Securities Borrowing and Lending Regulations Click Here
5.    Trading Procedures Click Here

Tadawul would be pleased to receive concerned and interested parties’ observations, which shall be considered during the process of issuing the final Rules, no later than Wednesday the 8th of February 2017 through the following email:

Tplus2@tadawul.com.sa

It is worth mentioning that introducing the T+2 settlement cycle aims to align the Saudi Stock Market with leading global settlement practices, and to increase levels of asset safety for investors. Moreover, the T+2 settlement cycle has no negative effects on buyers or sellers. According to the this new settlement, Sellers have purchasing power to buy new securities immediately after transaction execution, and do not have to wait for the cash settlement to be completed. Buyers are also able to sell purchased securities immediately with no need to wait for cash settlement of the transaction.

 

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