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Article 48 Of Chapter 4
Section: Clearing Agency

Clearing Agency means any legal entity that conducts settlement and clearing operations among Traders in Securities, with regard to payment or delivery, or both. It provides related services including safekeeping of Securities within a central Securities depository for keeping and transferring ownership or a central counter party system for capital markets transactions. The Authority may grant Clearing Agency licenses to one or more Clearing Agency activities.

* Article (48) is amended pursuant to Law No. 22 of 2015 Amending Some Provisions of Law No. 7 of 2010 regarding the Establishment of the Capital Markets Authority & Regulating Securities Activities.

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