Karachi: Trading and settlement schedules for upcoming Deliverable Future Contracts (DFC) have been adjusted due to book closure dates for specific companies, according to a series of notifications by the Pakistan Stock Exchange (PSX). The changes will affect contracts for August, September, and October 2024.

This revision is in response to the closure dates of three major banks: Bank AL Habib Limited, MCB Bank Limited, and Meezan Bank Limited. These updates were previously documented in PSX notices numbered PSX/N-510 on 31 May 2024, PSX/N-607 on 28 June 2024, and PSX/N-724 on 26 July 2024.

According to information available from the Pakistan Stock Exchange (PSX), the trading for DFC-AUG-2024, DFC-SEP-2024, and DFC-OCT-2024 will commence on different dates, with all contracts starting in early June or July and closing by mid-August. The settlement dates for these contracts are scheduled for 19 August 2024.

Furthermore, alternative trading and settlement schedules have been set for shares traded without the entitlement of benefits. These schedules apply to contracts labeled AUGB, SEPB, and OCTB, starting on 12 August 2024 and concluding at the end of August, September, and October respectively. The final settlements for these contracts are due in early September and October.

The PSX has stated that trades in shares of the specified securities during the rollover period, which extends from 12 August to 15 August 2024, will not be eligible for benefits and will be traded on an ex-benefit basis. The exchange also reserves the right to modify these dates or adjust the contract terms if necessary.

Market participants are advised to take note of these changes to avoid any potential disruptions in their trading activities.