Title: Press Release: "The Market Maker Weekly Report System" is the Topic for a Virtual Awareness Workshop by the Capital Markets Authority

Kuwait, May 30, 2022 - On Sunday, May 29, 2022, the Capital Markets Authority held an awareness workshop virtually through the platform (ZOOM), which dealt with the topic of "The Market Maker's Weekly Report System", through which it aimed to clarify the various aspects related to this automated system, which was established by the CMA for the purpose of receiving the weekly reports of the Market Maker at the licensed persons electronically. This came at the same time of the entry of the system in the experimental phase which extends during the period (30 May – 30 June 2022) in preparation for the launch of its actual implementation  as of the third of July, the set date for the Market Maker to submit the report to the CMA through this system only.

It should be noted that the CMA’s tendency to launch the aforementioned system falls within the framework of its endeavor to develop its supervisory work mechanism related to licensed persons, which helps in raising the efficiency of performing tasks, and simplifying the procedures of dealing with it for all those concerned with its services in general, and the entities covered by its control in particular, through unifying the form of the submitted reports and their fulfillment of all the necessary regulatory requirements, and the possibility of submitting them electronically in a way that saves a lot of time and effort.

Furthermore, the workshop, whose invitation was limited to those concerned with the subject of the Market Maker, was presented by Mr. Khaled Ali Al-Sahli - Manager of the Trading Section, and Mr. Abdulmohsen Walid Al-Abd Al-Razzaq - Analyst in the Capital Markets Development and Risk Management Department at the CMA, and addressed its topics through several aspects, which commenced with an explanation of the mechanism of adding authorities, followed by an introduction to the automated system of the Market Maker's weekly report and its objectives. Then it reviewed in detail the elements of this report with its two sides: the trading report and the ownership report. It clarified that the trading report should provide a summary of the purchase and sell operations carried out by the market maker in each trading session. As for the components of the ownership report, it mainly includes the percentage of his ownership of the shares of the companies on which he acts as a market maker and the changes that occurred in these percentages.

The workshop then moved to clarify the procedures for preparing the report, starting with filling out its forms and completing the required data and ending with uploading and sending it, before the workshop concluded with answering the participants’ inquiries and questions.

Ends-

Notes to Editors:

The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010. Pursuant to the Law, the CMA shall regulate and supervise the securities activities, achieve transparency and fairness, observe listed companies’ execution of Corporate Governance regulations, and protect investors from unfair practices which violate the CMA's Law.

Furthermore, the Law's provisions stipulate the supervision of mergers, acquisitions, and disclosure operations. The CMA also aims to provide awareness programs related to securities activities.

For further information, please contact:

Public Relations & Media Office

Tel: 22903062

Fax: 22903505

Email: pr-media@cma.gov.kw