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The Saudi Exchange, Muqassa, and Edaa announce 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:
1. The amended Trading and Membership Rules (click here);
2. The amended Securities Clearing Center Rules (click here);
3. The amended Securities Depository Centre Rules (click here);
4. The amended Short Selling Regulations (click here);
5. The amended Securities borrowing and Lending Regulations (click here);
6. The amended Trading and membership Procedures (click here);
7. Cash Market Clearing Procedures (click here);
8. Depository Centre Procedures (click here); and
9. 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-:
1. The Exchange and Centre Procedures;
2. Orders Aggregation Accounts Regulations; and
3. 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.
Noting that a public consultation was conducted on the amended Trading and Membership Rules draft, amended Securities Clearing Center Rules draft, amended Securities Depository Centre Rules draft, and the amended Glossary of Defined Terms used in the Exchange Rules draft on 22/11/1441H Corresponding to 13/07/2020 G.
The CMA Board Resolution includes that the amendments on the Exchange Rules and Procedures stipulated in (First) and cancelling the documents stipulated in (Second) is to be effective as of 3/8/1443H corresponding to 6/3/2022G (“Effective Date”). The current Exchange Rules and Procedures shall continue to be effective until the Effective Date.
The Saudi Exchange also announce that the Board of the Capital Market Authority (“CMA”) has issued its Resolution Number (1-118-2021) dated 03/04/1443 H corresponding to 08/11/2021G, which includes the approval to amend the term “Maturity” used in the Glossary of defined terms used in the Exchange Rules to the following: “Maturities: the available four maturities for trading Listed Derivatives Products (current month, next month, and next two quarters)”.
