The Saudi Stock Exchange will introduce the T+2 settlement cycle during 2Q17 to align the Saudi stock market with leading global settlement practices, and to increase levels of asset safety for investors, the bourse announced on Monday. The T+2 settlement will be applied in ways that did not slow trading activity, according to the bourse. "Sellers are ... able to sell purchased securities immediately with no need to wait for cash settlement of the transaction." The current settlement cycle, under which trades must be settled on the same day, has inconvenienced foreign investors in particular as they must have large amounts of money on hand before trading, which can be difficult, given Riyadh's time zone and its Sunday-Thursday business week. (Reuters)