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This program includes intensive activities of external workshops aimed at raising awareness of the project and its phases of implementation of some of the relevant financial markets parties such as Kuwait Clearing Company, brokerage companies, banks and other licensed persons involved in the market development project. It also includes daily internal workshops aimed at employees of various departments of the CMA to identify the nature of the project in general and the developments in the implementation of the remaining phases and the implications expected after the full implementation, to review of current best international practices related to these topics, and to discuss the risk management principles of the PTM and the technical requirements for the service providers of the central counterparty (CCP), the securities settlement facilities (SSF) and the central securities depository (CSD), as well as the licensing mechanisms for the providers of such services and their requirements in accordance with the Executive Bylaws of CMA’s Law. The workshop also explains the proposed amendments to the Executive Bylaws on the licensing requirements of the SSF. In addition, the CMA aims to separate the licensing requirements of the CMA from the requirements of registration with the Exchange and the Clearing House for licensed persons registered with these entities (the market intermediaries).
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