Edaa delays shortening settlement cycle
02 January 2024 Qatar
Image: moofushi/stock.adobe.com
Edaa, Qatar鈥檚 central securities depository, has postponed the jurisdiction鈥檚 shift from a T+3 to a T+2 settlement cycle.
The move, which was originally scheduled for 2 January 2024, has been pushed back to March.
This decision was made in response to custodian requests, and was coordinated with the Qatar Financial Market Authority (QFMA).
Edaa CEO Sheikh Saif bin Abdullah Al-Thani assures that the company鈥檚 infrastructure is prepared to implement the shorter cycle.
However, he explains that this longer preparation window will allow market participants, financial intermediaries and custodians to update their systems and notify clients of new procedures.
This will benefit the Qatar financial market as a whole, he adds, encouraging greater investments in securities and providing a faster environment process turnover service.
A shorter settlement cycle aims to improve Qatar鈥檚 presence in global capital markets.
The move, which was originally scheduled for 2 January 2024, has been pushed back to March.
This decision was made in response to custodian requests, and was coordinated with the Qatar Financial Market Authority (QFMA).
Edaa CEO Sheikh Saif bin Abdullah Al-Thani assures that the company鈥檚 infrastructure is prepared to implement the shorter cycle.
However, he explains that this longer preparation window will allow market participants, financial intermediaries and custodians to update their systems and notify clients of new procedures.
This will benefit the Qatar financial market as a whole, he adds, encouraging greater investments in securities and providing a faster environment process turnover service.
A shorter settlement cycle aims to improve Qatar鈥檚 presence in global capital markets.
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