As part of its strategy to support developing the capital market, the Saudi Stock Exchange "Tadawul" implemented the (T+2) settlement cycle of listed securities on Sunday. This step further aligns the Saudi capital market with international standards, benefitting both domestic and foreign investors. "We are continuing to implement new initiatives to diversify and enhance opportunities for investors. The (T+2) settlement cycle will bring Tadawul's trade settlement cycle into line with standard clearing and settlement practices in a number of developed markets," said Khalid Abdullah Al Hussan, Chief Executive Officer of Tadawul. Al Hussan continued "This is a further step in Tadawul's effort to realise Saudi Arabia's Vision 2030; to diversify the Kingdom's reliance on oil and make its equity market more attractive to local and foreign investors." Tadawul announced last year that it has obtained the CMA's regulatory approval to amend the settlement cycle of listed securities in the equity market within two subsequent working days of the trade execution date. Furthermore, Tadawul announced publishing Draft Rules for the T+2 settlement cycle for public consultation involving concerned and interested parties, along with the QFI Information Memorandum; which includes the existing structure and enhancements to the Saudi Capital Market. The new settlement cycle applies to transactions of securities listed in the market of all types (stocks, sukuk, bonds, Exchange-Traded Funds (ETFs), tradable rights), in addition to over-the-counter transactions (OTC). This will in turn unify the settlement duration for all types of listed securities. In regards to the (T+2) settlement cycle's impact on traders, Mr. Abdullah Al Khaifah, Chief Business Development of the Securities Depository Center said, "All types of securities' transactions are completed after two business days following the transaction execution date. Traders will still have purchasing power directly upon executing transactions with no need to wait for completing the settlement of securities."