Instimatch Global Partners with Muqassa to Unveil Groundbreaking Saudi Repo Trading Platform

March 01, 2024 -  Instimatch Global AG from Switzerland and the Securities Clearing Center Company (Muqassa) from the Kingdom of Saudi Arabia are delighted to declare the inauguration of the Instimatch Saudi Repo Trading Platform. This announcement was made following a cooperation agreement signed during the Saudi Capital Market Forum 2024, held on February 20, 2024.

The collaboration has led to the creation of a novel platform that integrates Instimatch's RepoBlick trading platform with the clearing services offered by Muqassa. This integration is designed to facilitate repo trading for Saudi financial institutions on a fully digital platform. RepoBlick, known for its advanced price discovery and digital negotiation capabilities, aims to enhance market efficiency and transparency. With its connection to Muqassa's systems and the treasury management systems of users, the platform offers comprehensive digital access to cleared repo trading for both members and non-members of Muqassa's clearing services.

(L-R): Adrian Edelman, (CEO, Instimatch),  Mansour Alta’is (Head of Account Management and Sales at Muqassa), Avinash Acharya (COO, Instimatch), Javid Chaudry (Business Development, Muqassa), Saad Al-Rasheed (Business Development Manager, Muqassa), Abdullah Al-Ghanim (Head of MENA, Instimatch), Hugh Macmillen (Chairman, Instimatch), Wael AlHazzani (CEO, Muqassa), Talal Othman (Team Lead, Business Development, Muqassa)

Instimatch expressed its pride in contributing to the digital evolution of Saudi Arabia's financial and market infrastructure, aligning with the strategic goals of Vision 2030. The company said it remains dedicated to innovation, continually enhancing the platform, and adapting it to meet the evolving needs of the market.

Saudi Arabia's Vision 2030 is a strategic framework aimed at reducing the country's dependence on oil, diversifying its economy, and developing public service sectors such as health, education, infrastructure, recreation, and tourism. Unveiled in 2016 by Crown Prince Mohammed bin Salman, the vision outlines ambitious goals to transform Saudi Arabia into a global investment powerhouse and a hub connecting three continents: Asia, Europe, and Africa. It emphasizes the development of non-oil industries, private sector growth, and increasing foreign direct investment.