The Qatar Stock Exchange’s plan to shorten its settlement cycle has been delayed.
The move from T+2 to T+3 was announced back in October and had been scheduled for January 2.
The idea is to improve the speed of trading in Qatar and align the country’s securities market with other international exchanges.
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However, Edaa, Qatar’s central securities depository, has announced that the project has been pushed back to March.
According to Edaa, the delay was at the request of custodians and the decision was made in coordination with the Qatar Financial Market Authority.
The Edaa chief executive Sheikh Saif bin Abdullah Al-Thanni stated that the CSD’s infrastructure is fully prepared for the change and the delay is in order to allow other market participants to update their systems and notify their clients of any new processes or procedures as a result of the move to T+2.
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