CFCL General information – Saudi Arabia
Reference
CFCL eligible fund types
CSD link
Please refer to the Market Link Guide – Saudi Arabia for more information.
Eligible funds
Investment funds that are eligible in The Saudi Arabian CSD can be made eligible in CFCL.
Exchange Traded Funds (ETFs)
Exchange-Traded Funds (ETFs) are permitted and can be traded within the Saudi Arabian market.
Custody chain and depository
Type of link | Indirect via The Hongkong and Shanghai Banking Corporation Limited acting through HSBC Saudi Arabia |
CSD | Custodian (as CBL’s depository) | CBL (as CFCL’s depository) | |
Name | Securities Depository Center Company (Edaa) | The Hongkong and Shanghai Banking Corporation Limited, acting through HSBC Saudi Arabia | Clearstream Banking S.A. |
FATCA GIIN | L5QN9K.99999.SL.682 | 4RI52Y.00000.BR.392 | N1V1GJ.00000.LE.442 |
LEI | Not available | 2HI3YI5320L3RW6NJ957 | 549300OL514RA0SXJJ44 |
Country of incorporation | Saudi Arabia | Germany | Luxembourg |
Account type | Omnibus account under a foreign nominee structure | Omnibus | Segregated |
Legal Account name/holder | Clearstream Banking S.A. | Clearstream Fund Centre S.A. | Clearstream Fund Centre S.A. |
Depository
Depository | CSD/Local custodian/Agent |
CBL | The Hongkong and Shanghai Banking Corporation Limited acting through HSBC Saudi Arabia. HSBC Building, 2nd Floor, 7267 Olaya Road, Al-Murooj, Riyadh 12283-2255 Kingdom of Saudi Arabia Mailing address: HSBC Building, 2nd Floor, 7267 Olaya Road, Al-Murooj, Riyadh 12283-2255 Kingdom of Saudi Arabia Depository Code: 22 |
Operational arrangements
This section describes the operational arrangements of the Saudi Arabian market:
For CFCL clients | Remarks | |
Settlement free of payment | Yes | For NCBO transfers and new issues settlement |
Settlement against payment | Yes | Eligible settlement currency: |
Settlement against payment in central bank money | No | Against payment settlement takes place on the cash account of HSBC Saudi Arabia |
Settlement penalty fees | Yes | Refer to the Market Profile - Saudi Arabia. |
Shaping facility | No | |
Partial settlement | Yes | Partial settlement is possible in forced settlement and buy-in scenarios. |
Pre-matching | Yes | |
Back-to-back processing | No | |
Automatic compensation | No | |
Recycling | Yes | |
Settlement with Euroclear | No | |
Hold and Release | Yes | |
Allegements | No | |
Transaction Linking | No | |
Bilateral Cancellation | Yes | |
Registered securities | Yes | Registration takes place automatically upon settlement. |
Transaction Management | Yes | |
Proxy voting | Yes | |
Sale and purchase of rights | No | |
Repo services | No | |
Market restrictions | Yes | Clients and/or beneficial owners who are of Saudi Arabian nationality and/or residents of Saudi Arabia are not permitted as per local regulations. |
FTT | No | |
Daily reconciliation | Yes | |
Link eligible for use in Eurosystem credit operations | No | |
Moments of entry of instructions | At the time of orders reaching the Saudi Exchange. | |
Irrevocability of instructions | Trade orders sent to the Saudi Exchange are binding and irrevocable upon their execution. | |
Finality of instructions | Securities transfer into buyer’s account and cash credited into the account of the Settlement Member of the seller. | |
Legal arrangements
The below section is valid on the date of the legal opinions that were issued and might be subject to change.
The information is provided for guidance only and should not be considered in isolation or as constituting a complete or definitive legal advice on any specific matter.
As CBL is our sub-custodian, please refer to the Market Link Guide – Saudi Arabia for the complete information about Legal arrangements.
Cash correspondent details
Currency: | Saudi Riyal (SAR) |
CCB name: | Saudi Awwal Bank |
CBL account: | SA67 4500 0000 0138 6677 7021 |
Swift address: | SABBSARIXXX |