Karachi: The National Clearing Company of Pakistan Limited (NCCPL) has announced its quarterly review of securities eligibility for the Securities Lending and Borrowing (SLB) and Margin Financing (MF) systems, effective July 30, 2025. This review follows the guidelines set forth in the NCCPL Regulations 2015, adjusting the list of eligible securities for both trading systems.

For the SLB system, several securities have been added to Category A, which pertains to short selling. These include Arif Habib Corporation Limited, Adamjee Insurance Company Limited, BankIslami Pakistan Limited, Bank Makramah Limited, Ghani Chemical Industries Limited, Gharibwal Cement Limited, Jubilee General Insurance Limited, Jahangir Siddiqui & Co. Ltd., JS Momentum Factor Exchange Traded Fund, Lalpir Power Limited, National Foods Limited, At-Tahur Limited, Tariq Glass Industries Limited, and Waves Home Appliances Limited.

Conversely, a number of securities have been excluded from Category A due to higher impact costs. These are Al-Ghazi Tractors Limited, AKD Securities Limited, Azgard Nine Limited, Baluchistan Glass Limited, Gul Ahmed Textile Mills Limited, Nishat Chunian Limited, Pakistan Aluminium Beverage Cans Limited, and Wafi Energy Pakistan Limited. The exclusion of these securities is attributed to impact costs exceeding the threshold, with Wafi Energy Pakistan Limited also affected by low average daily traded volumes.

In addition to these changes, First Fidelity Leasing Modaraba has been newly included in Category B of the SLB system. This reflects its eligibility for different trading strategies under the revised guidelines.

According to information available from the Pakistan Stock Exchange (PSX), the adjustments made in this quarterly review are significant for market participants, particularly those engaging in short selling and lending activities.

Furthermore, First Fidelity Leasing Modaraba has also been added to the Margin Financing system, indicating its expanded role within NCCPL's trading frameworks. This inclusion is in accordance with clause 7B.3.1.3 of the NCCPL Regulations 2015, and will also take effect from July 30, 2025.

The review is part of NCCPL's ongoing efforts to ensure that the securities eligible for its systems meet the necessary regulatory standards and market conditions, thereby maintaining an efficient and dynamic trading environment.