Settlement Dates
Ref. : 2681/2021
Date: 27/05/2021
Date: 27/05/2021
Memo No.
(34/2021)
Brokers & Custodians, Members of the SDC
Dear General Manager,
Subject: Settlement Dates
| Reference is made to the decision of the Prime Ministry no.210/10/60/16309 dated 24/05/2021 and further to our memo no. (33/2021) dated 27/05/2021 concerning the return to work within the usual official working hours from (8:00) am to (4:00) pm. | |
| 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 30/05/2021 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 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 10:00 am maximum on the second day after Trading day (T+2). |
| 3. | The period during which the custodians will 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 (1) the notices issued by the SDC’s electronic system to the brokers for the payment of Liquidity Reserve amount, and (2) the notices to the brokers and custodians for the payment of the amounts due on the settlement day shall remain the same which is final on trading day by 3:00 pm, unless another notice was is sent by the SDC afterwards amending them. |
Kind Regards,
Jamal Jallab
Acting Deputy Chief Executive Officer
sdc ref id
1114
Last update Thursday on 23-11-2023 at 15:26:57
