Doha, Qatar: Edaa company announced the postponement of reducing the settlement period from T+3 to T+2 until March 2024, in coordination with Qatar Financial Market Authority (QFMA), and at the request of the custodians.
In this context, Chief Executive Officer of Edaa Sheikh Saif bin Abdullah Al Thani underscored the preparedness of the company’s infrastructure to implement the procedures of reducing the settlement period, pointing out that the announcement comes out of concern for the public interest of Qatar’s financial market and its participants.
He indicated that this deadline was granted so that market participants, financial intermediaries, and custodians could update their systems and notify their clients of the new procedures in preparation for its implementation in compliance with the legislation of the QFMA, as well as to strengthen and develop Qatar’s financial market, attract investments in securities, as well as speed up the turnover of the investment process for the general benefit of the market and investors.
This strategic move focuses on shortening the settlement period at the Qatar Stock Exchange (QSE) from T+3, three working days after the date of the sale or purchase, to T+2, a two working day period from the date of the sale or purchase. Thus leading to a qualitative leap in the speed of trading at QSE. Aligned with international best practices, this initiative promises to strengthen Qatar’s position in the global capital markets arena.
