The balances of these accounts will be transmitted by the Banque du Liban to Midclear on a daily basis and the system will validate if the balances are sufficient to clear the trades after the netting process takes place. Midclear will transmit the figures to the Banque du Liban in order to make the necessary entries in the accounts. Midclear will have an account at the Banque du Liban to clear trades of affiliates who are not eligible to have their own accounts. Midclear will not settle trades partially.
Settlement takes place on trade date plus three.
With the reduced settlement period for share dealing, the time available for the receipt and return of shares is decreasing. Thus, stock journal entries for deposit, withdrawal, and transfer are done with same day value, and trades executed on the exchange are recorded 3 working days after trade date. Du Liban - All rights reserved.