Muqassa introduces Repo Clearing Services enhancements
20 October 2026 Saudi Arabia
Image: Sukanya/stock.adobe.com
The Securities Clearing Center Company (Muqassa) has launched enhancements to its Repo Clearing Service and extended its operating hours.
Effective July 2026, Muqassa extended its operating hours from 09:00 to 15:55, giving market participants a wider window to execute and manage repo transactions.
The package introduces a range of enhancements to the Repo Clearing Service, including an incentives plan, request for quote (RFQ), early settlement, portfolio account rectification, seamless FIXML connectivity, and security substitution.
The inclusion of non-bank entities into the Repo Clearing Service via Muqassa鈥檚 Sponsored Access will provide participants with access to broader liquidity pools outside the traditional banking sector.
According to the firm, the service aims to advance the modernisation of Saudi Arabia鈥檚 fixed income market infrastructure by mitigating counterparty risk, enhancing capital efficiency, and increasing liquidity within the cleared repo segment.
The automation of both the initial sale and subsequent repurchase legs of repo transactions removes the need for manual operational and custodian intervention.
Additionally, a delivery-versus-payment (DvP) model provides participants with direct access to liquidity, supporting Muqassa's ongoing service updates for its repo clearing framework.
Wael Al-Hazzani, CEO of Muqassa, says: 鈥淭hese enhancements reflect Muqassa鈥檚 continued commitment to improving the efficiency, accessibility, and resilience of Saudi Arabia鈥檚 capital market infrastructure.
鈥淏y extending repo working hours and introducing a new bundle of enhancements, Muqassa is supporting the development of a more efficient repo market and contributing to the continued growth of the Kingdom鈥檚 fixed income market.鈥�
Effective July 2026, Muqassa extended its operating hours from 09:00 to 15:55, giving market participants a wider window to execute and manage repo transactions.
The package introduces a range of enhancements to the Repo Clearing Service, including an incentives plan, request for quote (RFQ), early settlement, portfolio account rectification, seamless FIXML connectivity, and security substitution.
The inclusion of non-bank entities into the Repo Clearing Service via Muqassa鈥檚 Sponsored Access will provide participants with access to broader liquidity pools outside the traditional banking sector.
According to the firm, the service aims to advance the modernisation of Saudi Arabia鈥檚 fixed income market infrastructure by mitigating counterparty risk, enhancing capital efficiency, and increasing liquidity within the cleared repo segment.
The automation of both the initial sale and subsequent repurchase legs of repo transactions removes the need for manual operational and custodian intervention.
Additionally, a delivery-versus-payment (DvP) model provides participants with direct access to liquidity, supporting Muqassa's ongoing service updates for its repo clearing framework.
Wael Al-Hazzani, CEO of Muqassa, says: 鈥淭hese enhancements reflect Muqassa鈥檚 continued commitment to improving the efficiency, accessibility, and resilience of Saudi Arabia鈥檚 capital market infrastructure.
鈥淏y extending repo working hours and introducing a new bundle of enhancements, Muqassa is supporting the development of a more efficient repo market and contributing to the continued growth of the Kingdom鈥檚 fixed income market.鈥�
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