Operational Development to the Settlement Cycle

التاريخ
Ref. : 8/11/4192
Date: 07/09/2017

Memo No.
(90/2017)

Brokers & Custodians, Members of the SDC

Subject: Operational Development to the Settlement Cycle
 
Referring to the latest memo no.(82/2017) dated August 3rd, 2017 regarding the upcoming Operational Development to the Settlement Cycle, and the implementation of this new project as of the date determined by the Securities Depository Center’s Board of Directors.
   
Please note that the Securities Depository Center’s Board of Directors has determined the date of October 1st, 2017 to be the date of the enforcement of The Registration, Deposit and Settlement of Securities Instructions of the year 2017 and The Internal Bylaw of the Settlement Guarantee Fund of the year 2017.
   
And henceforth it would be the date for the implementation of the new development to the Settlement Cycle, which includes the involvement of the Custodians through settling the trades of their clients directly with the Securities Depository Center on a Delivery Versus Payment method.
   
Kind Regards,

Khalil Naser
Chief Executive Officer
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