Karachi: In a strategic move to prepare for the launch of Cash Settled Futures (CSF) products, the Pakistan Stock Exchange (PSX), in collaboration with the National Clearing Company Pakistan Limited (NCCPL) and the Pakistan Stock Brokers Association (PSBA), has announced a market-wide mock session to be held on Saturday, November 22, 2025. This session will run from 12:00 p.m. to 4:00 p.m., providing an opportunity for Trading Right Entitlement Certificate Holders (TRECHs) and securities brokers to test critical applications in a controlled environment.

The applications slated for testing include JTT, KITS, Vendor provided OMS (including e-clear), NTT, and THIMS. The mock session aims to ensure that these applications function seamlessly with the CSF market and within the normal course of business operations.

Participants in the mock session will engage with integrated systems provided by PSX and NCCPL, using the same credentials as in the production environment. According to information available from the Pakistan Stock Exchange (PSX), the systems will reflect the End of Day position as of the evening of Friday, November 21, 2025. This will allow participants to experience an environment closely mirroring actual market conditions.

The scope of the session includes testing basic trading functionalities across all markets, with a specific focus on the CSF. Participants are encouraged to place and execute trades in various markets to identify any potential impacts resulting from the CSF integration. All JTT terminals currently subscribed by the TRECHs are eligible for participation.

The PSX has underscored the importance of this mock session as part of its ongoing efforts to ensure a smooth transition to the new CSF product. A designated time schedule and a list of CSF eligible securities have been provided to participants to facilitate the process, as detailed in Annexure "A" and "B".

This initiative represents a critical phase in the preparation for the CSF product launch and reflects the collaborative efforts of key stakeholders within Pakistan's financial market infrastructure.