Regulatory Alerts2022-04-12 | No. 75/22Added · Updated
Regulation on Clearing and Settlement (No. 75/22)
The Capital Market Authority of Oman issued Decision No. 75/22 to establish a comprehensive regulatory framework for clearing and settlement operations on the Muscat Stock Exchange. The regulation designates the Muscat Clearing and Depository Company as the sole operator for T+3 Delivery Versus Payment transactions, while outlining strict procedures for resolving suspended trades, covering cash and securities deficits, and levying standardized fines on defaulting members. Additionally, it mandates a Settlement Management Fund capitalized at five percent of members' paid-up capital to absorb settlement defaults, explicitly abrogating conflicting prior provisions and taking effect ninety days after official publication.
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