Karachi: In a notable development for market participants, the National Clearing Company of Pakistan Limited (NCCPL) has unveiled a new Bank Guarantee (BG) transfer functionality within its Risk Management System (RMS). This change, effective from Monday, September 21, 2026, streamlines the process by eliminating the need for participants to request the company for BG transfers between markets.

The BG Transfer functionality is now accessible directly through the post-trade RMS system in line with the Designated Time Schedule (DTS). Market participants can transfer BG across various markets, including Ready, Growth Enterprise (GEM), Deliverable Future Contract (DFC), Cash settled Future, and Margin Trading System (MTS) markets. System validations have been integrated to prevent transfers when outstanding demands are linked to the respective BG.

A dedicated BG transfer screen has been incorporated within the RMS system, as detailed in Annexure - A. Clearing Members (CMs) can monitor all BG reallocations via a new BG Transfer Report/download and verify balances through the RMS Bank Guarantee Report, as stated in Annexure - B. The functionality also facilitates the transfer of BG from a Financee account to a Financier account within the MTS market.

According to information available from the Pakistan Stock Exchange (PSX), the introduction of this functionality is expected to enhance operational efficiency for market participants and clearing members, simplifying the management of bank guarantees across different financial markets. This development aligns with NCCPL's ongoing efforts to bolster the infrastructure supporting Pakistan's financial markets.