Two More Banks to Become Cash Settlement Agents

Two more banks are processing their application to become the cash settlement agents in the Cambodia Stock Exchange (CSX).

The update was highlighted by H.E. Sou Socheat, Director General of Securities and Exchange Commission, adding that the new joiners will increase the number of CSX cash settlement agents to five.

Currently, there are three cash settlement agents, including ACLEDA Bank Plc., BIDC, and Canadia Bank Plc.

Cash settlement agent is a party who helps complete a transaction between a buyer and seller through the transfer of security to the buyer and the transfer of cash or other compensation to the seller.

Having five cash settlement agents reflects stable growth of the stock market in Cambodia, said H.E. Sou Socheat.

Cambodia has listed five companies as equity securities, they are Phnom Penh Water Supply Authority, Grand Twins International (Cambodia) Plc., Phnom Penh Autonomous Port, Phnom Penh Special Economic Zone, and Sihanoukville Autonomous Port.

Source: Agency Kampuchea Press