The move is aimed at reducing systemic risk and ensuring the orderly settlement of contracts, according to the nation’s market regulator.
The International Swaps and Derivatives Association (Isda) has recognised the enforceability of close-out netting in the Kingdom of Saudi Arabia by publishing its legal opinions on 10 November. The move is aimed at reducing counterparty uncertainty for international institutions The development comes following the nation’s market regulator, Capital Market Authority’s (CMA) issuance of the 'Close-Out Netting and Related Collateral Arrangements Regulation' in July. The published C