Saudi Arabia reduces bond trading delay penalty

According to a statement from Muqassa, Saudi Arabia has lowered the daily fee charged for bond trades that fail to settle on time in the fixed income market. The fee has been reduced from 25 basis points per day to 5 basis points per day. There is no minimum fee for each settlement failure. This change will take effect on July 13th. This move is the latest in a series of measures taken by Saudi regulatory authorities this month to simplify the operational processes for local and foreign investors in various asset classes.