(As defined in the BCBS guidelines on Capital Requirements for Banks Exposures to Central Counterparties and as published via SAMA circular No. 371000101116 dated 15/09/1437 AH)

A clearinghouse that interposes itself between counterparties to contracts traded in one or more financial markets, becoming the buyer to every seller and the seller to every buyer and thereby ensuring the future performance of open contracts. A CCP becomes counterparty to trades with market participants through novation, an open offer system, or another legally binding arrangement.

(As defined in the BCBS guidelines on Capital Requirements for Banks Exposures to Central Counterparties and as published via SAMA circular no. 371000101116 dated 15/09/1437 AH)

An entity that is licensed to operate as a CCP (including a license granted by way of confirming an exemption), and is permitted by the appropriate regulator/overseer (CMA) to operate as such with respect to the products offered. This is subject to the provision that the CCP is based and prudentially supervised in a jurisdiction where the relevant regulator/overseer has established. (Saudi Arabia) and publicly indicated that it applies to the CCP on an ongoing basis, domestic rules and regulations that are consistent with the CPMI-IOSCO Principles for Financial Market Infrastructures.

(As defined in Securities Central Counterparties Regulations Issued by the Board of the Capital Market Authority Pursuant to its Resolution No. 3-127-2019 Dated 21/03/1441AH)

A Clearing Member who is authorised to clear Securities which it has traded in its capacity as a member of an Exchange, including Securities it has traded on its own account or on behalf of its Client (s). A Direct Clearing Member shall not be permitted to clear for Exchange members with no clearing memberships.

(As defined in Securities Central Counterparties Regulations Issued by the Board of the Capital Market Authority Pursuant to its Resolution No. 3-127-2019 Dated 21/03/1441AH)

A Clearing Member who is authorised to clear Securities on behalf of its Client(s), including Exchange members that with no clearing memberships. A General Clearing Member, to the extent that it is a member of an Exchange, shall be permitted to clear Securities which it has traded in its capacity as a member of an Exchange, including Securities it has traded on its own account or on behalf of its Client(s).