Karachi: The Pakistan Stock Exchange has announced structural adjustments to the standardized Cash Settled Futures (CSF) contracts for several companies following their book closure announcements. The changes will affect companies including Oil and Gas Development Company Limited (OGDC), Pakistan Oilfields Limited (POL), Hub Power Company Limited (HUBC), Attock Refinery Limited (ATRL), and Fauji Fertilizer Company (FFC). The adjustments are set to take effect from March 6, 2026.
According to information available from the Pakistan Stock Exchange (PSX), the modifications involve transitioning from standardized to non-standardized CSF contracts. This transition impacts multiple contract symbols such as OGDC-CMAR, POL-CAPR, HUBC-CMAY, ATRL-CMAR, and FFC-CMAY, which will consequently be converted into their respective non-standardized versions with an appended ‘N1’.
In the case of Attock Refinery Limited (ATRL), the contract multiplier will change from 500 to 501, while the contract prices for March, April, and May will adjust from 776.10, 784.80, and 795.68 to 774.17, 782.85, and 793.70 respectively. The free float will see a slight increase from 42,646,500 to 42,785,548 shares, representing a moderate move.
For Fauji Fertilizer Company (FFC), the contract multiplier increases from 500 to 506, with contract prices adjusting downward from 545.16, 551.28, and 558.92 to 537.42, 543.46, and 550.99 respectively. The free float for FFC will increase from 853.87 million to 867.51 million shares, indicating a minor move.
Hub Power Company Limited (HUBC) will see its contract multiplier increase from 500 to 509, with a corresponding drop in contract prices from 220.84, 223.31, and 226.41 to 216.19, 218.61, and 221.64. This adjustment is accompanied by an increase in free float from 972.87 million to 995.61 million shares, classified as a moderate move.
Oil and Gas Development Company Limited (OGDC) will have its contract multiplier adjusted from 500 to 506. Its contract prices will decrease from 287.82, 291.04, and 295.08 to 283.77, 286.95, and 290.93, with an increase in the free float from 645.14 million to 654.90 million shares, indicating a moderate move.
Pakistan Oilfields Limited (POL) experiences a change in its contract multiplier from 500 to 517, while its contract prices will see a decrease from 684.55, 692.23, and 701.83 to 658.02, 665.40, and 674.63. The free float for POL will increase from 129.95 million to 135.44 million shares, denoting a big move.
These contract modifications are a direct result of the companies’ decisions to close their books, necessitating adjustments in the contract specifications for investors trading in the derivatives market. The PSX has urged all stakeholders to take note of these changes, which aim to align the contract terms with post-corporate action realities.