Karachi: The Pakistan Stock Exchange has officially extended the trading hours for GoP Ijarah Sukuk and other securities in the Bills & Bonds market, effective from September 16, 2024.
In a recent update, the PSX revised the Designated Time Schedule (DTS) for trading various types of securities. Notably, the trading hours for GoP Ijarah Sukuk, encompassing discounted, fixed rate, and variable rate securities, have been expanded on Fridays. Previously, the session would conclude at 12:00 PM, but will now extend until 3:00 PM, with an additional session introduced from 2:30 PM to 3:00 PM.
According to information available from the Pakistan Stock Exchange (PSX), the adjustments include changes to Corporate Debt Securities (CDS) which cover Term Finance Certificates (TFCs) and private TFCs. The revised Friday schedule for CDS now mirrors that of GoP Ijarah Sukuk, with trading extending until 3:00 PM and the addition of a new session.
Furthermore, the trading hours for Government Debt Securities (GDS), including Treasury Bills, Pakistan Investment Bonds, and other Ijarah Sukuk issued by the State Bank of Pakistan, have also been modified. The end of the trading session on Fridays for GDS has been moved from 11:15 AM to 12:00 PM.
The exchange also outlined the settlement cycles for these securities. The GoP Ijarah Sukuk will have a T+1 settlement cycle for the Continuous Auction session and a T+0 cycle for the Negotiated Deals Market. Similar settlement cycles apply to Corporate Debt Securities, while Government Debt Securities will operate with a T+0 settlement cycle for Continuous Auction and Negotiated Deals Market sessions.
These changes are expected to enhance flexibility and increase participation in the trading of GoP Ijarah Sukuk and other debt instruments at the PSX. All market participants are advised to note these new schedules and settlement details.