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.
• Starts Intraday margin calculation 10:00 AM.
• Deadline for final end of day margin call cover 11 AM.
• 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.
• Options Exercise (Till Expiry Date) 9:30 AM until 4:00 PM.
• Options Deny (On Expiry Date) 9:30 AM until 4:00 PM.

REPO Market:

Repo Market Hours will remain the same as Non-Ramadan days

• Market hours for Normal Repo from 9:00 AM until 3:20 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 Thursday 4th of April 2024 (25th of Ramadan 1445). Accordingly, clearing will be as follows:

-    Clearing will discontinue at the end of trading day on Thursday 4th of April 2024 (25th of Ramadan 1445).

-    Clearing will resume after the holiday on Sunday 14th of April 2024 (5th Shawal 1445).