Karachi: In a significant update, the National Clearing Company of Pakistan Limited (NCCPL) has announced a detailed trading and settlement schedule following the suspension and reduction in the shares of Bank Makramah Limited (BML). This announcement was made public in accordance with PSX Notice # PSX/N-77, dated January 19, 2026, and was effective from January 23, 2026.

According to the newly released schedule, several key dates and processes have been outlined for both the Regular and Leverage Markets. For the Regular Market, trading will occur on specific dates, with the settlement of shares scheduled as follows: trading on January 27, 2026, will settle by January 29, 2026, and trading on January 28, 2026, will settle by January 30, 2026. On January 29 and 30, 2026, any pending deliveries are to be squared up or closed out by January 30, 2026. It is important to note that netting between T+2 and T+0 trades on the same settlement date will not be permitted. Additionally, the facility of all types of IDS will not be available for T+0 trading.

For the Leverage Market, the last trading date for taking up new positions in the Margin Financing System (MFN) and Securities Lending & Borrowing (SLB) is set for January 27, 2026, with settlement on January 29, 2026. The release of open positions for both MFS and SLB is scheduled for January 28, 2026, with settlement on January 30, 2026. Notably, MFS open positions will be compulsorily released by the end of the day on January 28, 2026, with margin-financed securities being transferred to respective CDS sub-accounts on the same day. Similarly, SLB open positions will be forcefully released after the market closes on January 28, 2026.

According to information available from the Pakistan Stock Exchange (PSX), the pledging facility for the symbol “BML” in favor of NCCPL will not be available on February 2, 2026, but it is set to resume on February 3, 2026. This move by the NCCPL reflects a structured approach to managing the clearing and settlement of BML shares amidst the ongoing suspension and reduction actions.

These developments hold significant implications for clearing members and participants in the financial markets, requiring adherence to the outlined schedules and processes to ensure compliance and minimize disruptions in trading activities related to Bank Makramah Limited shares.