Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) signed an agreement with NASDAQ to develop clearing systems and settlement, aiming to develop Tadawul’s post-trade technology infrastructure.
This development includes registry, depository, and risk management technologies, and NASDAQ will continue supporting Tadawul's existing trading and market surveillance technology, according to a statement on Monday by the Saudi bourse.
“The new Post-Trade technology, will replace Tadawul’s current registry, depository and settlement solution, which was implemented in 2001,” the statement added.
All development phases are expected to complete during second half of 2020.
