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CMA LAW: Resolution No. (76) of 2016 Regarding Ceasing the Financial Derivatives (Options, Futures and Forward)
Date Publish
31 August 2016
Having Perused:
- Law No. (7) of 2010 on the Establishment of the Capital Markets Authority and
Regulating Securities Activities and its amendments; and
- The Executive Bylaws of Law No. (7) of 2010 on the Establishment of the Capital
Markets Authority and Regulating Securities Activities and their amendments; and
- CMA Board of Commissioners Resolution passed in its meeting No. (28) of 2016
held on 24/8/2016;
The Following Was Resolved
Article (1)
Dealing in Futures and Forward shall be ceased starting from September 1, 2016.
Article (2)
Starting from September 1, 2016, the existing Futures and Forward contracts may be extended for a period or similar periods, provided that the end date of such contracts shall not be after October 31, 2017 in any case.
Article (3)
New options contracts whose periods end after October 31, 2016 shall not be issued or concluded. Specific mechanism shall be set directly between the service provider and other related parties for dealing with the existing contracts which end by December 29, 2016.
Article (4)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date of issuance.
Dr. Nayef Falah Al-Hajraf
Chairman, CMA Board of Commissioners
Issued on: 31/8/2016
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