Karachi: The Pakistan Stock Exchange (PSX) has announced changes to the trading and settlement schedules for the deliverable future contracts (DFC) of United Bank Limited (UBL) due to the announcement of a book closure date. These adjustments aim to accommodate the upcoming corporate actions and will impact DFCs for July, August, and September 2025.

According to the revised schedule, the contracts JULB and AUGB will both open on June 16, 2025, with trading set to close on July 16, 2025, and settlement on July 18, 2025. The September contract (SEP) will open on June 30, 2025, close on July 16, 2025, and settle on July 18, 2025. These contracts will operate on a cum-benefit basis, allowing traders to qualify for benefits during this period.

Post-book closure, the trading schedule shifts to an ex-benefit basis. The JULC contract will commence on July 14, 2025, close on July 25, 2025, with settlement on July 29, 2025. The AUGC contract will follow the same start date, closing on August 29, 2025, and settling on September 2, 2025. Lastly, the SEPB contract will also open on July 14, 2025, but will close on September 26, 2025, with settlement on September 30, 2025.

The PSX has indicated that there will be an overlap period for the UBL contracts from July 14 to July 16, 2025, during which traders can engage in transactions on both cum-benefit and ex-benefit bases. According to information available from the Pakistan Stock Exchange (PSX), any trade in the shares under the JULC, AUGC, and SEPB contracts will not be eligible for entitlements, emphasizing the importance of the ex-benefit nature of these trades.

The PSX retains the authority to modify the dates or adjust the duration of the contracts if necessary, ensuring flexibility in response to market needs. This development is critical for market participants involved in the designated market category, as they navigate through the revised trading and settlement landscape for United Bank Limited's future contracts.