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Tadawul launches Central Counterparty Clearing House

Tadawul launches Central Counterparty Clearing House
The CCP’s board of directors approved to appoint Wael Abdullah Al Hazzani as CEO.

Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) on Wednesday announced launching the Central Counterparty Clearing House (CCP) for clearing securities, a closed joint company with SAR 600 million capital.

The firm aims to develop future clearing services in accordance with the state-of-the-art global risk management standards in a bid to boost the Saudi bourse and diversify investment opportunities which is part of Saudi Vision 2030, according to Tadawul's statement.

“[The CCP] will help to diversify investment opportunities in the market by enabling the introduction of new asset classes such as derivatives and others that will allow investors to diversify their trading strategies,” the statement added.

The fresh company will also contribute to improving risk management in the market, Tadawul noted. 

The CCP’s board of directors approved to appoint Wael Abdullah Al Hazzani as CEO.