Acting CEO of the Qatar Stock Exchange (QSE ) Abdulaziz Nasser al-Emadi predicted that QSE is due to witness new listings before the end of 2023 that include an investment fund in sustainability, along with two companies one of them will be listed in the key market and the other one in the startups.
In statements to Qatar News Agency (QNA), al-Emadi outlined that the new listings are expected to be finalised during the last quarter of 2023, considering the flexibility of the regulating legislation and procedures the QSE has enforced in collaboration with the concerned entities.
He added that the legislation and procedures offer multiple options for companies that want to be listed, indicating that the listing of the credit card service company "Meeza" in QSE as a first Qatari public shareholding company to be listed in accordance with the price building mechanism, is a qualitative addition in the technological field which the QSE strives to expand.
Commenting on the recent announcement by the QSE of the commencement of the covered short selling activity and securities lending and borrowing, al-Emadi highlighted that such activity is complementary to the rest of activities in the market and is critical for derivatives market, including its criticality for the qualified investors and founding investors for hedging purposes.
He called on all investors and market dealers to have a look at the rules and instructions and benefit from them in the investment process.
In addition, covered short selling activity and securities lending and borrowing come within the initiatives aimed at upgrading market operation mechanisms and strengthening liquidity in collaboration with the Qatar Financial Markets Authority (QFMA), and Edaa while the processes of this sale will be subject to the rules issued by the QFMA's board of directors' decision No 5 of 2022 under the regulatory framework, in addition to the rules of securities lending and borrowing issued by the same board in its decision No 4 of 2022, the QSE's relevant procedures issued under market notice No 26 of 2023, market notice No 27 of 2023, as well as the rules and procedures of securities lending and borrowing.
Only this type of sale will be exclusively allowed for market makers, liquidity providers and qualified investors, including members and other cases approved by the QFMA, while lending and borrowing processes will be carried out in Edaa's post-trade system by its members and custodians who are permitted to conduct this activity under the name of securities lending and borrowing's agents, as the role and responsibilities of those agents have been determined under article No 3 of the rules of securities lending and borrowing issued by the QFMA.
