news
KUWAIT
CLEARING
COMPANY
TCS BaNCS for Market Infrastructure
selected for pioneering initiative in
Kuwaiti securities market
As part of a larger transformation
of the Kuwaiti financial market,
Kuwait Clearing Company (KCC) will
transition from a gross settlement
model to a Central Counter Party
(CCP) clearing settlement model. CCP
clearing will increase liquidity, reduce
risk, promote greater participation
by global investors, and facilitate the
introduction of new products to the
Kuwaiti market.
In 2016, KCC established a five-year
strategy to implement international
best-practice investment market
standards to help Kuwait attain
Emerging Market Status as defined
by FTSE and MSCI, which would
further the goal of attracting more
foreign investment to Kuwait.
“Setting up a CCP-based clearing
28