Midclear

What Midclear does

Midclear S.A.L. is Lebanon's statutory central securities depository (CSD), custodian, and clearing center, established in 1994 by the Central Bank of Lebanon and designated as the Central Depository for Lebanon by Law No. 139 enacted in October 1999. The organization operates as a membership-based B2B infrastructure provider serving over 100 member financial institutions, including major Lebanese commercial banks (BLOM Bank, Bank Audi, Byblos Bank, Bank of Beirut, Fransabank), investment banks, brokerage firms, mutual funds, and listed companies. Its core services include clearing and settlement, custody, central registrar services for bank shares (Law No. 308/2001), securities administration, mutual fund administration with NAV calculation, and sole National Numbering Agency (NNA) functions for ISIN code allocation (appointed July 2, 2003).

The underlying technology stack is built on Real Time Gross Settlement (RTGS), Public Key Infrastructure (PKI) for secure electronic communications, and SWIFT messaging standards for both local and cross-border transactions. The platform is connected to international financial market infrastructure through links with Euroclear, ClearStream, ANNA, and ISSA, and to regional infrastructure through AMEDA and Misr Clearing. A disaster recovery site located outside Lebanon provides business continuity. The organization is regulated by the Central Bank of Lebanon and the Capital Markets Authority, with a 19-person operating team based in Beirut.

Midclear generates revenue through four primary streams: membership fees for institutional access, transaction processing fees for clearing and settlement, custody and administration fees for safekeeping and mutual fund administration, and ISIN allocation fees for securities identification. The business model is exclusively domestic (Lebanon) with no international operations, and services are delivered through direct institutional relationships under a regulatory mandate rather than competitive marketing. Annual financial reports are published from 2006 through 2024, and the company maintains policies for AML, anti-bribery, and business conduct ethics.

Name

Midclear

Legal name

MIDCLEAR S.A.L. (CUSTODIAN AND CLEARING CENTER OF FINANCIAL INSTRUMENTS FOR LEBANON AND THE MIDDLE EAST)

Website

https://midclear.com.lb

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

11–50 employees

Short description

Midclear S.A.L. is Lebanon's statutory central securities depository and clearing center, providing clearing, settlement, custody, registrar, mutual fund administration, and ISIN allocation services to over 100 member financial institutions under exclusive Central Bank of Lebanon mandate.

Ownership category

akta.pro rank

Product category

Central Securities Depository Services

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Other Financial Vehicles (52599)

SIC

Functions Related To Depository Banking, Nec (6099), Finance Services (6199)

akta.pro primary industry

Securities Lending & Collateral Management (Custodian-Led) (FSAFAHAC)

akta.pro secondary industries

Fund Depositary (UCITS/AIFMD & Trustee Oversight) (FSAAAOAC), Treasury, Cash & Liquidity Management (Custody Cash) (FSAAAOAL)

Keywords

• Securities clearing settlement
• Central securities depository
• Custodian services
• Securities administration
• ISIN allocation services

Headquarters

HQ city

Beirut

HQ country

Lebanon

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Membership Fees: Fees charged to member institutions for access to clearing, settlement, custody, and other depository services
2. Transaction Processing Fees: Fees for clearing and settlement transactions processed through the depository system
3. ISIN Allocation Fees: Fees for allocating International Securities Identification Numbers (ISIN) for Lebanese securities
4. Custody and Administration Services: Fees for custody services, mutual fund administration, and securities administration

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Midclear operates Lebanon's statutory central securities depository, providing clearing and settlement, custody, central registrar, mutual fund administration, and ISIN code allocation services to member financial institutions. It is the sole National Numbering Agency for Lebanese securities and the exclusive Central Registrar for Lebanese bank shares, serving banks, brokerages, mutual funds, and listed companies through SWIFT-connected infrastructure with an off-shore disaster recovery site.

Product overview

Midclear S.A.L. is Lebanon's central securities depository and clearing center, providing a unified platform for financial market infrastructure. The core offerings include Clearing and Settlement services, Custody Services, Registrar Services (for bank shares), Administration of Securities, and Administration of Mutual Funds. Additionally, Midclear serves as the National Numbering Agency (NNA) for ISIN code allocation. The company connects to international market infrastructure through SWIFT integration, Euroclear, and ClearStream, while maintaining regional linkages through AMEDA and Misr Clearing. Client-facing services include searchable securities lists, member directories, subcustody agreements, and statistical reporting. The platform operates under Lebanese law (Law No. 139 of 1999 establishing the Central Depository, Law No. 308 of 2001 for the central Registrar function, and Law No. 161 of 2011 for capital markets).

Differentiator

Problem solved

Functional benefit

Products and services

• Clearing and Settlement Core clearing and settlement services for financial instruments traded in Lebanese and regional markets, ensuring transaction processing and securities delivery versus payment for member banks and brokerages.
• Custody Services Securities custody services providing safekeeping, administration, and asset protection for securities held on behalf of member banks and financial institutions.
• Registrar Services Central registrar services for all Lebanese bank shares, maintaining shareholder registries and corporate actions records as mandated by Law No. 308.
• Administration of Securities

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature4 records

Partnerships

Ten partnerships are on record, tiered core and regional.

• International Securities Services Association (ISSA)coreTechnology or Integration · 18 January 2018As of January 18, 2018, MIDCLEAR S.A.L became a member of ISSA. This membership provides international networking and best practice sharing in securities services.
• Association of National Numbering Agencies (ANNA)coreTechnology or Integration · 14 November 2003Full member of ANNA since November 14, 2003. Membership enables availability of all Lebanese ISINs to all ANNA members worldwide.
• EuroclearcoreTechnology or IntegrationInternational link for cross-border securities settlement and custody operations.
• ClearStreamcoreTechnology or IntegrationInternational link for securities clearing and settlement services.
• SWIFTcoreTechnology or IntegrationSWIFT messaging standard for financial transactions, disaster recovery capabilities, and automation of securities processing.
• AMEDA (Arab Monetary Fund)regionalTechnology or IntegrationRegional link for Arab capital markets connectivity.
• Misr ClearingregionalTechnology or IntegrationRegional link for Egyptian securities clearing connectivity.
• Banque Du Liban (Central Bank of Lebanon)coreOthersCentral Bank of Lebanon is the regulatory authority overseeing Midclear's operations and the founding authority that established Midclear.
• Beirut Stock ExchangecoreStrategic or Co-development PartnerLocal link for trading and securities listing coordination.
• Capital Markets AuthoritycoreOthersCMA is the regulatory body overseeing capital markets in Lebanon.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Depository Trust & Clearing Corporation (DTCC): US-based post-trade market infrastructure operator providing central securities depository, clearing, and settlement services. Comparable as a globally significant CSD/clearing utility serving capital markets, though at vastly different scale.
• Clearstream: Major international CSD (Deutsche Börse group). Clearstream is a direct operational link partner of Midclear for cross-border securities clearing and settlement, making it a directly comparable CSD peer.
• Euroclear: One of the world's largest international CSDs. Midclear maintains a direct operational link to Euroclear for cross-border settlement, making Euroclear the most relevant global peer in terms of service category (central securities depository) and counterparty integration.
• Saudi Tadawul (Saudi Central Securities Depository): Saudi Arabia's national exchange and central securities depository. Comparable as an emerging-markets national CSD with mandated clearing, settlement, custody, and registry functions across a Middle East capital market.

Others

• ANNA (Association of National Numbering Agencies): Global industry association of NNAs for ISIN allocation. Midclear is a full ANNA member since 2003; ANNA is the ecosystem-level counterpart enabling cross-border ISIN interoperability for Midclear's NNA function.

Regional players

• Securities Depository Center (SDC) of Jordan: Jordan's national CSD providing clearing, settlement, depository, and registry services. Closely comparable as a small Levantine national market infrastructure operator with similar mandate and member-based model.
• Misr Clearing, Central Depository and Registry (MCDR): Egypt's national CSD and clearing house. Midclear has an explicit operational link to Misr Clearing for regional connectivity, making it the closest Arab regional peer in terms of mandate (national CSD/clearing), market role, and integration partnership.
• Dubai Financial Market / DFM Clearing: UAE exchange group with integrated clearing, settlement, and depository functions. Comparable as a Middle East national market infrastructure operator with clearing and registry services for listed securities.
• Muscat Clearing & Depository (MCD): Oman's national CSD providing clearing, settlement, and depository services. Directly comparable as a GCC/Middle East national market infrastructure entity with similar mandate scope.

Emerging players

• Caja de Valores (Caja de Valores S.A.): Argentina's central securities depository. Comparable as an emerging-markets national CSD operating under sovereign financial stress, providing depository, clearing, and settlement services to local capital markets.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/midclear

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

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 Midclear