Central Counter Parties (CCPs), Securities Settlement Systems and Central Securities Depositories (CSD) are FMIs primarily related to the securities and derivatives markets. The primary regulator of CCPs, SSS and CSDs is the Capital Markets Authority (CMA) in KSA. However, as these FMIs require access to the account held by SAMA in order to effect the payment legs of securities or derivatives transactions and are important source payment systems participants’ liquidity in some cases, therefore, SAMA has an inherent interest to ensure that these FMI are safe and efficient.

SAMA and CMA therefore in order to formalize their roles and responsibilities i.e. SAMA as Banking Supervisor and Payment Systems Overseer and CMA as Securities and Derivatives market regulator has signed a Memorandum of Agreement (MOA) to ensure a formal legal and regulatory cooperation and coordination framework for the oversight of CCPs, SSS and CSDs.