CDC, EClear partner for real-time brokerage transfers via RAAST

August 19, 2025 (MLN): EClear Services Limited (ESL) and the Central Depository Company of Pakistan (CDC) marked a significant milestone with the successful integration of the RAAST payment system, said a press release issued today. 

This achievement reflects a collaborative effort to enhance efficiency in brokerage fund transfers across the capital market, with the solution implemented through SEAMS, the flagship back-office ERP powered by Microlinks.

 The signing ceremony was held at CDC House on Friday, 15th August, to commemorate this milestone collaboration, with Mr. Abdul Samad, Chief Operating Officer of CDC, and Mr. Zulfiqar Hyder Khan, CEO of EClear Services Limited, formally endorsing the partnership.

Senior representatives from these organizations as well as Microlinks were also present to witness the occasion, underscoring the industry’s shared commitment to advancing digital transformation in Pakistan’s capital market.

 This strategic integration leverages the State Bank of Pakistan’s instant payment system, RAAST, to enable seamless and secure real-time funds transfers from investors’ bank accounts directly into their brokerage accounts.

With this enhancement, clients of EClear Services Limited can now benefit from immediate fund availability, empowering them to make faster, more agile investment decisions. 

CDC is the sole depository of Pakistan and serves as the infrastructure backbone of the country’s capital markets. CDC’s role as an aggregator has been pivotal in enabling RAAST integrations for brokerage firms.

By bridging technological innovation with core financial infrastructure, CDC continues to drive digital transformation across Pakistan’s capital market. 

"CDC is proud to play a central role in integrating RAAST with the brokerage ecosystem," said Badiuddin Akber, CEO of CDC. "We remain steadfast in our mission to strengthen Pakistan’s financial infrastructure through collaborative and forward-looking technology partnerships that enhance financial inclusion and operational excellence."

EClear is Pakistan’s first Professional Clearing Member (PCM).

The purpose of EClear is to provide clearing, settlement, and custodial services to trading‑only brokers, thereby centralizing those functions and reducing investor risks. As a key component of the country’s post-trade market infrastructure, EClear plays a vital role in mitigating counterparty risk, enhancing transparency, and simplifying operations for its clients.

With a client base of 80 Trading Only (TO) brokers, EClear’s adoption of this solution not only benefits its own operations but also extends value to the subsequent clients of these brokers, broadening the impact across Pakistan’s capital market.

Furthermore, the system’s seamless integration has enabled EClear to roll out this initiative without the need for additional human resource cost, resulting in notable savings while maintaining operational efficiency. 

"Our partnership with Microlinks and CDC reflects our commitment to delivering efficient and investor-centric solutions for our clients," stated Zulfiqar Hyder Khan, CEO of EClear Services Limited. "By integrating RAAST into our systems, we’re empowering our clients with greater speed, transparency, and operational ease—critical factors in today’s fast-moving capital markets." 

"This integration underscores Microlinks’ commitment to delivering technology solutions that transform market operations and elevate investor experience," said Shahzad Ghulam Hussain, CEO of Microlinks.

The integration is now live, allowing EClear Services clients to access real-time brokerage funding capabilities, ushering in a new era of speed, control, and digital convenience in their capital market transactions.

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