Kuwait Clearing Company

What Kuwait Clearing Company does

Kuwait Clearing Company (KCC), operating under the brand name Maqasa, is the sole designated central clearing, settlement, and depository entity for the Kuwaiti securities market. Established by government decree in 1982 in the aftermath of the Souk Al-Manakh crisis, KCC was appointed clearing and settlement agent for the Kuwait Stock Exchange in 1986 and has since served as the mandatory post-trade infrastructure layer for every security traded on Boursa Kuwait. The company operates three wholly-owned subsidiaries — Kuwait Central Securities Depository (CSD), Kuwait Clearing House (KCH), and Kuwait International Trustee Company (KITC) — that decompose the post-trade value chain into custody, clearing/settlement, and trustee services respectively.

The company's core product architecture spans clearing and settlement for listed securities and derivatives, depository services for listed and unlisted securities (including debt instruments), registrar services, and trustee and custody services. Underpinning this is a digital platform suite including Maqasa Online (issuer and shareholder self-service), eAGM (electronic Annual General Meeting participation), the Inheritance Service (digital share inheritance processing with Ministry of Justice integration), the Issuer Login Portal, the Corporate Services Portal, an appointment booking system, and the E-Dividend electronic transfer service. Settlement operates on a T+3 cycle with 100% electronic straight-through processing. The company is publicly listed on Boursa Kuwait (ticker 460).

KCC generates revenue through transaction-based fees on clearing and settlement, managed-services fees on depository and custody, and professional-services fees for registrar and trustee work, with the fee schedule governed by the KCC Rulebook and applicable regulatory framework. Distribution occurs primarily through the Boursa Kuwait ecosystem, licensed brokerage firms, participating banks (which resell E-Dividend enrollment via their digital channels), and direct digital access through Maqasa Online portals. Customer segments include Boursa Kuwait, all licensed brokerage firms, banks and investment firms (NBK, Gulf Bank, Burgan Bank, KFH, KIB, National Investments Company), mutual funds, issuing companies (listed and unlisted), and local and foreign investors. A 2021 strategic partnership with Zain Kuwait supports the underlying telecommunications and cybersecurity infrastructure underpinning the platform.

Name

Kuwait Clearing Company

Legal name

Kuwait Clearing Company K.S.C.

Website

https://maqasa.com

Company type

Public

Founded year

1982

Operating status

Operating

Headcount range

101–250 employees

Short description

Kuwait Clearing Company (Maqasa) is the sole designated central clearing, settlement, and depository entity for the Kuwaiti securities market, serving Boursa Kuwait, brokers, banks, issuers, and investors through post-trade infrastructure and digital self-service platforms.

Ownership category

akta.pro rank

Product category

Securities Clearing and Settlement

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Clearing & Settlement Operations Services (FSAFALAB)

akta.pro secondary industries

Clearing & Settlement Operations (Post-Trade) (FSACALAC), Securities Clearing & Custody Services (DVP/RVP, Safekeeping) (FSABAJAD)

Keywords

• Central securities clearing
• Post-trade settlement services
• Depository and custody
• Share registrar services
• Securities market infrastructure

Headquarters

HQ city

Safat

HQ country

Kuwait

HQ region

Middle East

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Others

Revenue model

1. Clearing and Settlement Services: KCC provides clearing and settlement services for all securities and derivatives traded at Boursa Kuwait, earning fees for each transaction processed through the clearing house.
2. Depository Services: Custodial and depository services for securities, including services for unlisted equity securities and debt instruments, generating fees based on assets under custody.
3. Registrar Services: Share registry services to companies listed on Boursa Kuwait and investment funds, including dividend distribution management.
4. E-Dividend Service: Electronic dividend transfer services enabling shareholders to receive cash dividends directly to bank accounts, with KCC facilitating the transfer.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels5 records

Core offering

Kuwait Clearing Company is the central clearing, settlement, and depository entity for securities traded on Boursa Kuwait, providing post-trade infrastructure for all listed securities and acting as a depository for unlisted securities. It also offers share registrar, trustee, and custody services to issuing companies, investment funds, and security holders through its subsidiaries KCSD, KCH, and KITC.

Product overview

Kuwait Clearing Company (KCC/Maqasa) operates as a comprehensive post-trade financial market infrastructure platform providing central clearing, settlement, and depository services for the Kuwaiti securities market. The company functions as the backbone of Boursa Kuwait, offering clearing and settlement for all traded securities and derivatives, centralized depository services for listed and unlisted securities, registrar services for shareholder management, and trustee/custody services for investment funds. The product architecture is organized around core infrastructure services (clearing, settlement, depository, registrar, trustee) supported by digital service modules including Maqasa Online (self-service investor portal), eAGM Registration (electronic AGM participation), Inheritance Service (digital share inheritance processing), Issuer Login Portal (corporate actions management), Corporate Services Portal, and Maqasa AGM (shareholder meeting platform). Additional modules include the Appointment Scheduling System, E-Dividend Service for electronic dividend transfers, Dividend Distribution tracking, AGM Schedule service, and Foreign Investors Ownership tracking. The company also operates three subsidiaries: Kuwait Central Securities Depository (KCSD), Kuwait Clearing House (KCH), and Kuwait International Trustee Company (KITC), each specializing in distinct aspects of the post-trade value chain.

Differentiator

Problem solved

Functional benefit

Products and services

• Clearing and Settlement Services Central counterparty clearing and settlement of all securities transactions executed on Boursa Kuwait, operated under the supervision of the Central Bank of Kuwait and the Capital Markets Authority. Provided to brokerage firms, custodian banks, and market participants.

Quantifiable outcome

• E-Dividend service eliminated paper cheque issuance starting from 2019, enabling faster and more efficient dividend distribution to shareholders
• +1 more outcomes

Named customers10 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered strategic, core and minor.

• ZainstrategicTechnology or Integration · 1 December 2021Zain, a leading digital service provider in Kuwait, announced a collaboration with KCC in December 2021 to provide advanced telecommunications services and digital transformation solutions. Zain offers a bundle of telecom services and digital transformation solutions built on world-class innovations, including comprehensive cybersecurity services to support KCC's technical and operational needs.
• Boursa KuwaitcoreStrategic or Co-development PartnerKCC operates as the central clearing, settlement and depository entity in direct partnership with Boursa Kuwait. The two entities work side by side to serve the Kuwaiti market and attract both local and international investors. KCC provides clearing, settlement, and depository services for all securities and derivatives traded at Boursa Kuwait.
• Kuwait Central Securities Depository (CSD)coreTechnology or IntegrationCSD is a subsidiary of KCC operating as the central securities depository component, handling securities custody and depository operations.
• Kuwait Clearing House (KCH)coreTechnology or IntegrationKCH is a subsidiary handling the clearing house functions, providing centralized securities lending and borrowing services, OTC collateral management, and default procedures.
• Kuwait International Trustee Company (KITC)coreStrategic or Co-development PartnerKITC is a subsidiary providing trustee services to companies and investment funds, supporting KCC's asset servicing capabilities.
• Kuwait Ministry of HealthminorOthersKCC adheres to Ministry of Health instructions during health-related circumstances, implementing protocols such as mask requirements, social distancing, and advance appointment booking to ensure safe service delivery.

Scale indicators4 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Tadawul Holding Group: Saudi Arabia's exchange holding group operating clearing, settlement, and depository services for the Saudi capital market — the most directly comparable GCC market infrastructure operator by mandate and revenue model.
• Dubai Financial Market (DFM): UAE-listed exchange providing clearing, settlement, and depository services for Dubai-listed securities, with overlapping shareholder registry, custody, and registrar functions.
• Abu Dhabi Securities Exchange (ADX): Abu Dhabi's exchange operating post-trade infrastructure including clearing, settlement, and depository services for ADX-listed securities — a comparable regulated monopoly operator in the same regional ecosystem.
• Qatar Stock Exchange: Qatar's national exchange providing clearing, settlement, and central depository services for Qatari-listed securities, structurally similar to KCC's mandate within Kuwait.
• Bahrain Bourse: Bahrain's exchange operator providing clearing, settlement, and depository services for Bahrain-listed securities — a regional peer with similar scope of post-trade services.
• Muscat Stock Exchange (MSX): Oman's national exchange operating clearing, settlement, and depository infrastructure for Omani-listed securities, with comparable single-market mandate and GCC regional positioning.

Broad incumbents

• DTCC (Depository Trust & Clearing Corporation): The largest US post-trade infrastructure operator providing clearing, settlement, and depository services — a global benchmark incumbent for KCC's core clearing and settlement operations.
• Euroclear: International central securities depository operating cross-border settlement, custody, and post-trade services — comparable to KCC's regional custody and depository functions at a global scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/maqasa
• LinkedInlinkedin.com/company/kuwait-clearing-company-k.s.c
• Instagraminstagram.com/maqasa/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kuwait Clearing Company