Settlement times - Saudi Arabia
The deadlines shown below are valid provided that the customer's instructions are complete, accurate and eligible for straight-through processing (STP) in CBL and in the local market. Customers must also ensure that any necessary provision is available. If any of these criteria are not met, CBL cannot guarantee timely settlement.
Important Note: As part of CBL’s internal compliance procedures, all incoming customer instructions will automatically be scanned before entering transaction processing. Instructions that are internally flagged as requiring further manual investigation are set to status pending, with such status immediately reported to the customer via their chosen media channels, until either being manually released for processing or rejected. In order to ensure that instructions being investigated do not miss the applicable deadlines, customers are advised to input instructions at least 15 minutes before the associated deadline.
Settlement times in Central European Time (CET)
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
start | end | from | to | Value | |||
AP=Against payment FOP=Free of payment SD=Settlement date rtp=Real-time processing | |||||||
All eligible instrument types | |||||||
Receipts | FOP | 21:30 | 10:55 | 10:55 | 08:40 SD | 14:45 SD | |
AP | 21:30 | 10:55 | 10:55 | 08:40 SD | 14:45 SD | SD | |
Deliveries | FOPa | 21:30 | 10:55 SD | 10:55 SD | 08:40 SD | 14:45 SD | |
AP | 21:30 | 10:55 SD | 10:55 SD | 08:40 SD | 14:45 SD | SD | |
a. Free of payment transactions with change of beneficial owner are not permitted unless approved by the Saudi authorities.
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
start | end | from | to | Value | |||
AP=Against payment FOP=Free of payment SD=Settlement date rtp=Real-time processing | |||||||
All eligible instrument types | |||||||
Receipts | FOP | 21:30 | 09:55 | 09:55 SD | 07:40 SD | 13:45 SD | |
AP | 21:30 | 09:55 SD | 09:55 | 07:40 SD | 13:45 SD | SD | |
Deliveries | FOPa | 21:30 | 09:55 SD | 09:55 SD | 07:40 SD | 13:45 SD | |
AP | 21:30 | 09:55 SD | 09:55 SD | 07:40 SD | 13:45 SD | SD | |
a. Free of payment transactions with change of beneficial owner are not permitted unless approved by the Saudi authorities.
Settlement times in Arabic Standard Time (AST)
All year
Instruction | Provisioning | Deadline for receipt of valid instruction | Expected settlement results | ||||
start | end | from | to | Value | |||
AP=Against payment FOP=Free of payment SD=Settlement date | |||||||
All eligible instrument types | |||||||
Receipts | FOP | 23:30 | 11:55 | 11:55 | 09:40 SD | 15:45 SD | |
AP | 23:30 | 11:55 SD | 11:55 SD | 09:40 SD | 15:45 SD | SD | |
Deliveries | FOPa | 23:30 | 11:55 SD | 11:55 SD | 09:40 SD | 15:45 SD | |
AP | 23:30 | 11:55 SD | 11:55 SD | 09:40 SD | 15:45 SD | SD | |
a. Free of payment transactions with change of beneficial owner are not permitted unless approved by Saudi authorities.
Note: Customers should be aware that trade settlement takes place from Sunday to Thursday in Saudi Arabia, however CBL does not operate on Sundays. With the implementation of PTTP, settlement cycles ranging from T+0 to T+5 will be introduced for Negotiated Deals, which will allow customers to avoid Sundays as a settlement day. Customers who execute Negotiated Deals with their brokers on Wednesdays are strongly advised to ensure that the agreed settlement date (SD) between both parties does not occur on Sundays by agreeing to a T+0, T+1 or T+3/4/5 cycle. The customer’s broker will be able to modify the settlement cycle as agreed between both parties and thereby avoiding Sundays as the settlement date (SD). Settlement of trades in Saudi Arabia is mandatory and trades failing to settle on SD will go through a fail trade (buy-in) process from SD+1 and may result in penalties being passed to the customer from the customer’s broker.
CBL’s deadline for both MT540 and MT541 new issue settlement instructions is SD -1 12:00 AST time.