The Qatar Stock Exchange (QSE) will shift to a shortened settlement period 'T+2' from the present 'T+3", effective from January 2, 2024, a move that will help investors receive their cash faster and substantially reduce the operational and counterparty risks.
"During the period from now until the implementation of the shortening process, both QSE and Edaa will make necessary updates to the rules and procedures related to the settlement reduction process," QSE confirmed the date in a communique.
The endeavour is to follow the best international practices in the global financial markets in order to provide the best ways and functions to enhance the efficiency of Qatar’s securities market, it said.
The settlement cycle has remained at trade date plus three business days (T+3) in Qatar, where the global fund managers have been eyeing the fastest growing economy due to its strong macro fundamentals, especially after Qatar unveiled plans to enhance its liquefied natural gas production to 126mn tonnes per annum by 2027, which offered indirect benefits to the private sector as well.
No comments:
Post a Comment