Maqasa updates services and extends hours for repurchase agreement clearing
The Securities Clearing Center Company (Maqassa) has launched a set of enhancements to its repurchase agreement (repo) clearing service, along with extended working hours to facilitate access and operational efficiency. The improvements include the use of non-cash collateral without fees, a direct bid request service prior to executing the transaction, early settlement, updating of portfolio accounts, collateral securities replacement, and automated integration via the FIXML protocol. Additionally, the service now enhances access for non-bank institutions and fully automates buyback operations, aiming to support liquidity management and improve market efficiency in the Kingdom of Saudi Arabia.
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