Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodia exchange issues further rules

Cambodia exchange issues further rules

Cambodia exchange issues further rules

The Cambodia Securities Exchange took another step towards launching, as its regulator finalised rules on areas such as settlement period and fees.

The Securities and Exchange Commission of Cambodia held public consultations on the rules late last month before finalising them last week, it said in a press release.

Security settlements must be completed two days after the date of trade, or T+2, the release confirmed.

Meanwhile, annual fees were also set out, ranging from 50 million riel (US$12,547) to 2 million riel, dependant on the role the firm occupies.

ACLEDA Securities Director Svay Hay said yesterday he applauded the step forward for the bourse by finalising more of its rules to operate.

“[The rules] shows the progress of our stock exchange as we see it nearing completion for a launch this July,” he said.

However, he added fees charged for use CSX’s facilities were high, and pointed to a few issues requiring clarification.

One issue he highlighted came with the SECC’s decision to allow settlement in either dollars or riel, but require listings to be in riel only. It remains to be clarified whether a settlement denominated in dollars will use the exchange rate from the date of the trade, or the date of the settlement – which could be up to two days later.

The SECC said in the press release it had clarified several points brought up during its consultation process, adding the details would be released soon. SECC Director General Ming Bankosal was not available for comment yesterday.

MOST VIEWED

  • Ethnic group ‘disappointed’ to be denied French visas to attend court

    Eleven people at the centre of a case involving seven indigenous Bunong villages in Mondulkiri province pursuing legal action in France have expressed disappointment after the French embassy in Phnom Penh denied their visa applications to attend court. A press release said the 11 included a

  • Cambodia nabs 12th place in best retirement destinations

    Cambodia is an expatriate hotspot for those dreaming of living a more luxurious lifestyle at an affordable cost, according to International Living’s Annual Global Retirement Index 2019. For the fourth year in a row, Cambodia took the top spot in the Cost of Living category.

  • EU starts EBA withdrawal

    The EU on Monday announced that it has begun the 18-month process of withdrawing the Kingdom’s access to its preferential Everything But Arms (EBA) agreement over “a deterioration of democracy [and] respect for human rights”. However, the Garment Manufacturers Association of Cambodia (GMAC) said

  • PM: War result of foreign meddling

    Prime Minister Hun Sen said on Sunday that Cambodia’s recent history of conflict was caused by foreign interference. “The wars that happened were caused by provocation, incitement, support, smearing and interference from foreign powers, and the group of ignorant people who pushed Cambodia to