Muqassa (Securities Clearing Center Company)
Raid Almalki currently serves as the Head of Cash & Fixed Income Operations at Muqassa (Securities Clearing Center Company) since November 2024. Prior to this role, Raid held various senior positions at SAB Invest from October 2014 to October 2024, including Vice President - Head of Institutional Brokerage Trading and Head of Brokerage & Securities Services, where responsibilities included strategy formulation and service delivery enhancement. Previous experience includes roles at Riyad Capital and Samba Financial Group focusing on international brokerage and trading operations across various markets. Raid holds a Bachelor’s Degree in International Business Administration from King AbdulAziz University and has additional education from the Institute of Public Administration in Saudi Arabia.
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Muqassa (Securities Clearing Center Company)
Securities Clearing Center Company “Muqassa” was established in 2018 as a closed joint stock company fully owned by the Saudi Stock Exchange (Tadawul), in accordance with the Saudi Companies Law issued by Royal Decree No. M/3 dated 28/01/1437 – 11/11/2015, with a capital of (SAR 600,000,000) divided into (60,000,000) shares, with a nominal share value of SAR 10. Muqassa establishment and operation is one of the key initiatives in the Financial Sector Development Program 2020 (FSDP). In addition, it is an important component in the future market infrastructure to enhance market efficiency, and a required step for the Saudi market expansion to new products and services. Muqassa will contribute to reduce the Post-Trade risks, provide a centralized counterparty risk management, and develop clearing services in accordance with best international risk management practices to align with advanced global capital markets, which in turn will attract investors to the market.