Karachi: The Pakistan Stock Exchange (PSX) has revised the trading and settlement schedules for the deliverable future contracts (DFC) of Fatima Fertilizer Company Limited, prompted by the book closure announcement from the company. The alterations affect the contracts for September and October 2024.
The schedule change was initially communicated through PSX notifications PSX/N-607 on June 28, 2024, and PSX/N-724 on July 26, 2024. According to information available from the Pakistan Stock Exchange (PSX), the affected contracts are DFC-SEP-2024 and DFC-OCT-2024, which are set to observe modified trading and settlement dates.
For the DFC-SEP-2024 and DFC-OCT-2024 contracts, which benefit from the entitlement, trading will commence as scheduled but will close on August 30, 2024. Settlement is slated for September 3, 2024. Conversely, the contracts designated as SEPB and OCTB—traded without the entitlement of benefits—will open on August 28, 2024. SEPB is set to close on September 27, 2024, with settlement by October 1, 2024, while OCTB will wrap up trading on October 25, 2024, settling four days later on October 29, 2024.
PSX reserves the right to modify these dates or adjust the contract durations if necessary. Additionally, trades executed in SEPB and OCTB contracts will not be eligible for benefit payments and will be traded on an ex-benefit basis. The rollover period for these securities is scheduled from August 28 to August 30, 2024.
Market participants are encouraged to adjust their strategies and schedules in accordance with the new dates provided.