Muscat Clearing & Depository (MCD) announced the approval and implementation of its Internal Regulatory Rulebook, reports Oman News Agency.
The rulebook includes general provisions governing services, operational workflows, roles and responsibilities, dispute resolution, liability, and indemnification. It also sets out detailed criteria for MCD membership, the use of the central securities depository (CSD) system, securities account management, record-keeping of the central registry, pledges and liens, collateral management, and enforcement mechanisms. In addition, it provides a detailed guide to all clearing, settlement, depository, and corporate action services, as well as the recently launched securities lending and borrowing (SLB) framework.
Mohammed Al Abri, CEO of MCD, was cited as stating: “For the first time, all relevant regulatory provisions are consolidated into a single, accessible document that will serve as the authoritative reference for our operations.”