Saudi Arabia reached an agreement with one of the world’s biggest bond clearing systems to settle transactions in its debt market, Bloomberg News reported. The deal between the kingdom’s Securities Depository Center Company, known as Edaa, and Brussels-based Euroclear Bank will give foreign investors access to the sukuk and bond market within the Saudi Exchange. Under the terms of an agreement signed at the Future Investment Initiative conference in Riyadh, the link is expected to become operational in March 2022, according to a statement on Wednesday. “By becoming Euroclearable, this G-20 market will gain direct exposure to a wider international investor base, which will result in improved liquidity and cost efficiencies,” said Lieve Mostrey, chief executive officer of Euroclear Group. Read more.