The International Securities Lending Association (ISLA) has announced the Securities Depository Center Company (Edaa) as a new member.
Based in Riyadh, Edaa is the securities depository centre of the Saudi Tadawul Group. It provides a range of post-trade services to ensure the safe and efficient operations of the Saudi capital market.
According to ISLA, Edaa’s membership highlights the association’s increasing coverage in the Middle East.
The region’s growth potential is “vast and continues to attract considerable foreign interest and investment”, the association says.
It adds: “We are proud to work with our members in the region to support the development of securities lending markets in the Middle East.”
In September 2023, ISLA entered into a partnership with Latham & Watkins to promote the advancement of securities lending activities in the Middle East.
Five months later, in February 2024, the association released the first of a number of SBL guides covering the region, with the first guide dedicated to Saudi Arabia.
