CmaBoardReleases
Title: Resolution No. (65) of 2017 Regarding Executing Some Practices of Post Trade Model “PTM” (Transitional Phase)
Having Perused:
- Law No. (7) of 2010 on the Establishment of the Capital Markets Authority and Regulating Securities Activities and its amendments; and
- Resolution No. (72) of 2010 on Issuance of the Executive Bylaws of Law No. (7) of 2010 on the Establishment of the Capital Markets Authority and Regulating Securities Activities and its amendments; and
- Resolution No. (72) of 2016 on Implementing Post Trade Model (Transitional Phase); and
- Resolution No. (95) of 2016 on Implementing the Collateral System for Licensed Persons to Practice the Activity of a Securities Broker Registered in an Exchange and a Qualified Securities Broker Registered in an Exchange; and
- Resolution No. (62) of 2017 on Resolution No. (62) of 2017 Regarding Amending Articles of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments to Implement Some Clauses of Post-Trade Model (Transitional Phase); and
- CMA Board of Commissioners Resolution passed in its meeting No. (17) of 2017 held on 25/4/2017 on Approval of Trading Rules Under to the Post Trade Model of the First Transitional Phase; and
- CMA Board of Commissioners Resolution passed in its meeting No. (18) of 2017 held on 3/5/2017 on Approval of the Collateral System Document in the Post Trade Model (First Transitional Phase); and
- CMA Board of Commissioners Resolution passed in its meeting No. (18) of 2017 held on 3/5/2017 on Approval of Kuwait Clearing Company Rules – Post Trade Model (First Transitional Phase); and
- CMA Board of Commissioners Resolution passed in its meeting No. (19) of 2017 held on 10/5/2017;
The Following Was Resolved
Article (1)
All provisions of the following documents shall be enforced starting from 21/5/2017:
a. Document of the Trading Rules under to the PTM (First Transitional Phase) approved and issued by Boursa Kuwait Securities Company.
b. Document of Collateral System in the PTM (First Transitional Phase) approved and issued by Kuwait Clearing Company.
c. The approved document of Kuwait Clearing Company – PTM (First Transitional Phase).
Article (2)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date of its issuance. It shall be published in the Official Gazette.
Dr. Nayef Falah Al-Hajraf
Chairman, CMA Board of Commissioners
Issued on: 10/5/2017