SNB Capital becomes Muqassa clearing member 07 August 2024Saudi Arabia Reporter: Carmella Haswell
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Investment bank and asset manager SNB Capital has become a direct clearing member of Muqassa, a securities clearing centre company, in the derivative market.
SNB Capital has completed all regulatory and technical requirements to attain this status.
Muqassa is the clearing house of the Saudi Tadawul Group, and was established in 2018 as part of Saudi Arabia’s Financial Sector Development Program.
The firm says it reduces post-trade risk, provides a centralised counterparty risk management service, and develops clearing services in accordance with international best practices.
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