Independent Custody Service
CMA approved Independent Custody Model which improves settlement efficiency and reduces settlement risk for domestic, regional institutional investors, and Qualified Foreign Investors (QFIs).
A Custodian is a member of “Edaa” who has the capabilities to safe keep and manage investor assets.
A Custodian is appointed by the investor (custodian client) in the market to undertake the following services, which include but not limited to: Clearing and Settlement, Securities Safekeeping, Corporate Action processing, Cash Management, Securities Lending and Borrowing and Reporting.
The Custodian acts as the investor’s settlement and asset servicing agent in the Saudi Capital Market, and is responsible for supporting and managing pre and post trade activities.
- Aligned with International Best Practice
- Additional layer of protection over investor assets
- Increases investor control
- Settlement risk reduction
- Segregation of administrative roles between custodian and brokerage
- Unbundling of brokerage and custodian services
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