Karachi: The National Clearing Company of Pakistan Limited has announced changes to the trading schedule on the Pakistan Stock Exchange (PSX) due to the public holiday for Eid Milad-un-Nabi on September 17, 2024. The government of Pakistan has declared this day a public holiday, necessitating adjustments in the clearing and settlement dates for various market transactions.
According to information available from the Pakistan Stock Exchange (PSX), the revised schedule affects transactions on a T+2 and T+1 basis, as well as off-market (NDM) settlements. Under the T+2 schedule for the Regular Market, trades conducted on September 12, 2024, will now settle on September 16, 2024, instead of the previously scheduled September 17. Additionally, trades on September 16 will be settled on September 19, recognizing September 17 as a non-trading day due to the holiday.
For the T+1 schedule applicable to Other Markets, trades normally settled the next day will see a postponement, with September 16 trades now settling on September 18.
The OFF Market (NDM) transactions, which typically follow the settlement on the next trading day, will also observe a shift. Any trades marked for September 17 will now settle on September 18, 2024.
These adjustments are designed to accommodate the observance of Eid Milad-un-Nabi, marking the birth of Prophet Muhammad, and ensure smooth operation of market activities around the public holiday.