Muqassa and Instimatch Global AG Sign Landmark Memorandum of Understanding to Enhance Repo Trading in the Saudi capital market

Riyadh, 20 February 2024: In a significant move to enhance the financial infrastructure of the Saudi capital market, Muqassa and Instimatch Global AG have entered into a Memorandum of Understanding (MoU) that aims to introduce a state-of-the-art Repo trading platform, marking a new era in the region's financial services landscape. The MoU was signed at the third edition of the Saudi Capital Market Forum, being held in Riyadh between 19 and 20 February. 

Under the terms of the MoU, Muqassa will take on the critical role of central clearing for all Repo transactions on the new platform, guaranteeing a secure and efficient process for market participants. Instimatch Global AG, with the support of Muqassa, will be tasked with the ongoing enhancement of the trading platform, ensuring it adapts to the changing requirements of its users. The scope of the MoU is designed to be expansive, allowing both parties to collaborate on the introduction of new products and services in the Saudi capital market in the future. 

The collaboration between Muqassa and Instimatch Global AG is a testament to both organizations' dedication to providing sophisticated financial solutions that meet the needs of investors. 

This announcement also marks another step towards the development of a technologically advanced, diverse and integrated Saudi capital market as part of Vision 2030.