April 10, 2020      
Last Data Update:09/04/2020
Market News
al ahli bank Company SAOG invites its valued shareholders to attend the ordinary and extraordinary annual meeting.   -   Phonex Power invites the shareholders to attend the Annual General Meeting   -   TAKAFUL OMAN INSURANCE invites the shareholders to attend the Annual_General_Meeting   -   ALSAWADI POWER Company invites the shareholders to attend the Annual_General_Meeting   -   Oman Flour Mills Company invites the shareholders   -   OMANREFRESHMENT Company announces cash_dividends_distribution   -   ACWA POWER BARKA invites the shareholders to attend the Annual_General_Meeting   -   تعلن شركة الشرقية لتحلية المياة ش.م.ع.ع عن توزيع ارباح نقدية   -   Al maha petroleum Company SAOG invites its valued shareholders to attend the ordinary and extraordinary annual meeting   -   The Vision Insurance Company SAOG invites its valued shareholders to attend the annual and extraordinary annual meeting   -   MUSCAT THREAD MILLS S.A.O.G announces cash dividends distribution to shareholders registered on the cut-off date 02/03/2020   -   National Detergent Company announces cash dividends distribution to shareholders   -   Muscat Clearing and Depositary Company SAOC announces the payment of interest on government development bonds issuance (55).   -   Muscat Clearing and Depository Company SAOC announces the payment of interest and amortization of government development bonds issue (45)   -   Oman National Investment Development Co. SAOC declears about Capital Increase   -   Listing Emdad Logistics Company (SAOC) in The Third Market.
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Clearing and Settlement

Definition

The securities Clearing and Settlement System means the assignment of the rights and obligations arising from the process of securities trading and the coverage of the financial centers resulting from these trades and the consequent deductions and additions in accordance with what has been implemented.

Objectives of settlement and clearing system in Muscat Securities Market
  • Reduction of the risks resulting from the completion of the receipt and delivery of securities and the monetary values of the trades that take place in the stock market among broker companies operating in the field of securities.
  • Execution of the clearing and settlement process and completion of the transfer of ownership at the specified time.
  • Increase the turnover of securities in the market as a result of ensuring that the settlement is completed at the specified time.
  • Attracting foreign investment through international standards and the implementation of the DVP system and ensuring that all customers receive their rights on time.
  • In general, provides credibility and confidence to dealers in the market. 
Settlement Cycle in the Market

Muscat Clearing and Settlement Company, represented by the (Clearing and Settlement Department), shall execute clearing and settlement trades for the purpose of specifying the net rights and obligations of the members and completing the procedures of settlement processes of the financial centers resulting thereof and transfer ownerships as follows:
 
  • (2+T): Expiration of the settlement period of the securities traded on the second day after the trading day of bonds.
  • (3+T): Expiration of the settlement period of the securities traded on the third day after the trading day of equities.
Or as may be adopted from time to time by the Capital Market Authority in determining settlement periods (shares / bonds / Sukuk) and other financial tools.
 
 
 
Timing of Settlement Cycle

The cash settlement process is completed at 1:00 pm through the (RTGS) total instantaneous settlement system linked to the Central Bank of Oman by (adding / subtracting) to and from the Central Bank of Oman Settlement Account and the commercial banks’ accounts of the broker companies. While the stock settlement procedures are completed at 1:15 pm on a final basis by deducting the securities from the sellers’ accounts and adding them to the buyers` accounts. Or as may be adopted from time to time by the concerned authorities.
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