Islamabad: The National Clearing Company of Pakistan Limited (NCCPL) has announced the successful activation of the AWT Financial Sector Income Fund's Non Broker Clearing Member account, enabling direct clearing and settlement through the National Clearing and Settlement System (NCSS) as of 19-AUG-2024.

The implementation of the Financial Institutions (FIs) Margining System marks a pivotal enhancement in the NCCPL’s operational capabilities. AWT Financial Sector Income Fund, identified by its CM ID 19182 for regular market transactions, is now fully integrated into the NCSS. This integration includes risk management functionalities through the Institutional Delivery System (IDS) module, designed to streamline the settlement processes for financial institutions.

According to information available from the Pakistan Stock Exchange (PSX), the activation of this system by AWT Financial Sector Income Fund signifies a notable progression in the efficiency and security of market transactions, reflecting the ongoing advancements in Pakistan's financial sector infrastructure.

The direct involvement of financial institutions like AWT Financial Sector Income Fund in the NCSS through such systems is expected to enhance the transparency and reliability of financial transactions, fostering a more robust economic environment.