Clearing Hours During the Holy Month of Ramadan and Eid Al Fiter holiday for the Muqassa

Clearing Hours During the Holy Month of Ramadan and Eid Al Fiter holiday for the Muqassa
Muqassa announces that clearing hours during the holy month of Ramadan will be as follow:
 
Cash & Fixed Income Markets (Main Market – Nomu Market – Parallel Market- ETF Market - Sukuk and Bond Market):
•    Clearing session from 8:00 AM until 4:00 PM.
•    Last clearing settlement session at 3:30 PM
•    Post-trade activities session till 3:55 PM
•    Auto Rectify by the CCP on intended settlement date at 5:00 AM
•    CCP placing mandatory buy-in orders for failed settlement regarding member to CCP instructions: 2nd buy-in session at 1:35 PM
•    Clearing house reports available from 5:00 PM
•    Starts Intraday margin call: 10:00 AM
•    Deadline for final end of day margin call cover: 11:00 AM
•    Final intraday margin call: 2:30 PM
•    End of day margin calculation and margin call issuance 4:30 PM

Derivatives Market: 
•    Clearing session from 8:00 AM until 4:00 PM.
•    Settlement of end of day variation margin from 9:30 AM next day.
•    Deposit of cash collateral from 10:00 AM to 3:30 PM.
•    Starts Intraday margin calculation 10:00 AM.
•    Deadline for final end of day margin call cover 11 AM.
•    Withdrawal of cash collateral from 11:00 AM to 3:30 PM.
•    Final intraday margin calls 1:30 PM. 
•    Rectify trade deadline 4:00 PM. 
•    Give-up /Take-up of trades deadline 4:00 PM. 
•    End of day margin calculation and margin call issuance 4:30 PM.
•    Clearing house reports available from 4:30 PM. 
•    Default fund contribution (resize) Notification date +3 working days.

REPO Market:
Repo Market Hours will remain the same as Non-Ramadan days
•    Market hours for Normal Repo from 9:00 AM until 3:00 PM.
•    Market hours for Forward Repo from 9:00 AM until 5:00 PM.

Collateral:
•    Collateral Deposits from 10:00 AM until 3:30 PM.
•    Collateral withdrawals from 11:00 AM until 3:30 PM.

Muqassa also announces that Eid Al Fiter Holiday will commence on the end of Monday 17th of April 2023 (26th of Ramadan 1444). Accordingly, clearing will be as follows:
-    Clearing will discontinue at the end of trading day on Monday 17th of April 2023 (26th of Ramadan 1444).
-    Clearing will resume after the holiday on Tuesday 25th of April 2023 (5th Shawal 1444).