Overview

Muqassa Membership Overview

Clearing membership represents the set of elements required in its holder to provide clearing services for a number of products traded in the Saudi Stock Exchange. The member will be able to clear trades executed on its own and Clients account as well as the possibility to clear trades executed by other exchange members in the market (according to the Clearing Membership category).

Clearing members will have access to clear at one of the top regional liquid markets, with a diverse range of products that include:

  • Products listed on the Saudi Stock Exchange Market (Main Market).
  • Products listed on the Parallel Market (Nomu).
  • Products listed on the Sukuk & Bonds Market
  • Products listed on the ETFs Market.
  • Products listed on the REITs Market.
  • Products listed on the Derivatives Market.

Muqassa offers two membership category, which is intended to provide clearing members the flexibility to select the category that best fits their business:

  1. Direct Clearing Members (DCM) who are authorized to clear Securities which they have traded in their capacity as an Exchange Member, including Securities traded on its own account and on behalf of its Clients.
  2. General Clearing Members (GCM) who are authorized to clear Securities on behalf of one or more Clients, including Non-Clearing Members (other Exchange members), they may also clear Securities they have traded on their own account if they are trading members.
  3. Non-Clearing Member (NCM): an exchange member only but which is not a Clearing Member and clears through a General Clearing Member.