Amending Settlement Dates
التاريخ
Ref. : 1808/2020
Date: 28/05/2020
Date: 28/05/2020
Memo No.
(28/2020)
Brokers & Custodians, Members of the SDC
Subject: Amending Settlement Dates
| Further to our memo no. (26/2020) dated 22/05/2020 regarding the settlement dates that were in effect as of the date of 26/05/2020, and in light of memo no. (40) dated 28/05/2020 issued by Amman Stock Exchange regarding amending the daily trading hours that will be in effect as of Sunday morning, 31/05/2020. | |
| According to the provisions of Article (134) of the Registration, Deposit and Settlement of Securities Instructions of the year 2017, it was decided that the settlement dates as of 31/05/2020 are as follows: | |
| 1. | The payment of the amounts due to the settlement account set under the provisions of Article (80) and (82) of the Registration, Deposit and Settlement of Securities Instructions of the year 2017, shall be amended to become by 10:00 am maximum. |
| 2. | The deadline for the Brokers to resolve the causes related to suspended trading contracts due to the deficit of Securities Balance in sale trades for custody related accounts shall be amended to become by 10:00 am maximum on the second day after Trading day (T+2). |
| 3. | The period that the custodians during which either accept or reject the settlement contract according to the provisions of Article (71) of the Registration, Deposit and Settlement of Securities Instructions of the year 2017 is the same, which is 3:00 pm, maximum on the first day following the Trading Day (T+1). |
| 4. | The deadline set under the provisions of Article (79/A) and (79/B) of the Registration, Deposit and Settlement of Securities Instructions of the year 2017 regarding the notices issued by the SDC’s electronic system to the brokers for the payment of Liquidity Reserve amount, and the notices to the brokers and custodians for the payment of the amounts due on the settlement day shall still the same which is final on trading day by 3:00 pm, unless another notice was sent by the SDC afterwards amend them. |
| Therefore, all brokers and custodians are kindly requested to verify with their banks designated for settlement purposes the necessity of paying the money transfers required for the settlement account by 10:00 am, maximum as of 31/05/2020 until you receive another notice from the SDC to amend the dates specified in this memo. | |
Kind Regards,
Khalil Naser
Chief Executive Officer
