Karachi: The National Clearing Company of Pakistan Limited (NCCPL) has announced a revised clearing and settlement schedule due to an upcoming bank holiday, impacting trading activities at the Pakistan Stock Exchange (PSX). The alteration pertains to the settlement dates for transactions conducted at the end of December 2025.

According to the notice, the merge settlement for trades dated December 30 and December 31, 2025, will occur on Friday, January 2, 2026. This adjustment is necessitated by the bank holiday on Thursday, January 1, 2026. The Margin Trading System (MTS) will be unavailable on December 30, 2025, although the MTS Release system will remain operational on that day.

In preparation for the bank holiday, clearing members (CMs) are advised to ensure the availability of sufficient collateral by December 31, 2025, to prevent any margin-related issues on January 1, 2026. According to information available from the Pakistan Stock Exchange (PSX), payments up to Rs. 10,000,000 for exposure margins and losses may be processed via cheque for all markets.

Additionally, the NCCPL provides a fund transfer facility allowing CMs to move surplus funds across different markets independently of NCCPL and settling bank staff. This facility can be utilized by CMs to adapt to their business needs during the bank holiday.

Further provisions include the transfer of Pre-Settlement Delivery (PSD) and the release or allocation of Bank Guarantees (BG) and near cash instruments, such as T-Bills, PIBs, and Ijara Sukuks, between markets. CMs may also request the release and reallocation of pledged securities if there is an excess amount of Margin Eligible Securities (MES) deposited with NCCPL.

These guidelines aim to ensure smooth operations on the bank holiday, maintaining efficient functioning of the Pakistan Stock Exchange during this period.