Karachi: The National Clearing Company of Pakistan Limited (NCCPL) has released an update regarding the Clearing and Settlement Schedule for the upcoming bank holiday on July 1, 2026. According to information available from the Pakistan Stock Exchange (PSX), the merge settlement will occur on July 2, 2026, for trade dates June 30, 2026, and July 1, 2026.
The notice, dated May 29, 2026, referenced the merge settlement due to the bank holiday and provided specific guidelines for participants utilizing the Margin Trading System (MTS) and Risk Management System (RMS) functionalities. Participants are informed that the MTS and MTS Release (MTSR) systems will be operational on June 30, 2026, and July 1, 2026. Leveraged buys executed in the Ready Market on these dates will only be available on the respective trade date for MTS Take up.
Further, the NCCPL has outlined procedures for cheque acceptance, where payments up to Rs. 10,000,000 for exposure margins and losses may be accepted in cheque form. Participants are advised to ensure adequate collateral in the RMS to avoid margin issues on the bank holiday.
The NCCPL also highlighted the fund transfer facility in the RMS, allowing participants to transfer surplus funds between markets without involving the NCCPL and settling banks’ staff. This facility is expected to facilitate smooth operations on the bank holiday.
Additionally, the transfer of Pre-Settlement Delivery (PSD) is available, subject to sufficient collateral. The release or allocation of Bank Guarantee (BG) or near-cash instruments such as T-Bills, PIBs, and Ijara Sukuks can be requested through written communication with specific instrument details.
Lastly, participants with excess or surplus Margin Eligible Securities (MES) can request the release of pledged securities via an automated interface in the RMS. These securities can be deposited or pledged in another market to meet margin requirements.
The NCCPL’s guidelines aim to ensure seamless operations during the bank holiday, reinforcing confidence in the financial mechanisms in place at the Pakistan Stock Exchange.