Merged PSX settlement set for Dec 30–31 trades

December 30, 2025 (MLN): The Pakistan Stock Exchange (PSX) disclosed a merged clearing and settlement schedule for trades executed on December 30 and December 31, 2025, owing to a bank holiday on Thursday, January 1, 2026.

According to the notice issued by PSX, settlement for trades conducted on December 30 and December 31 will be merged and carried out on Friday, January 2, 2026.

The arrangement is aimed at ensuring smooth post-trade operations during the year-end holiday period.

As part of the revised schedule, the Margin Trading System (MTS) will remain unavailable on December 30, 2025.

However, the MTS Release system will continue to operate on the same day, allowing clearing members to manage releases where applicable.

In addition, due to the bank holiday on January 1, 2026, the National Clearing Company of Pakistan Limited (NCCPL) has issued operational guidelines for Clearing Members (CMs) to facilitate uninterrupted risk management and settlement processes through its Risk Management System (RMS).

Under NCCPL procedures, clearing members may submit cheque payments of up to Rs10m, covering all markets, to meet exposure margins and loss obligations.

CMs have been advised to ensure the availability of sufficient collateral in RMS by December 31, 2025, to avoid any margin-related issues on the bank holiday.

NCCPL has also highlighted the availability of the fund transfer facility within RMS, enabling clearing members to transfer surplus funds between markets, including Ready and DFC markets, without the involvement of NCCPL or settling bank staff.

Clearing members are encouraged to use this facility on January 1 based on operational needs.

The Pre-Settlement Delivery (PSD) transfer facility will remain accessible, allowing transfers between Ready and DFC markets, subject to sufficient collateral availability.

Similarly, clearing members may request the release or allocation of bank guarantees and near-cash instruments such as Treasury Bills, Pakistan Investment Bonds, and Ijara Sukuks across markets through written requests specifying instrument and market details.

For margin optimization, NCCPL has also facilitated the automated release of surplus pledged Margin Eligible Securities (MES) through RMS.

Clearing members can request the release of excess securities from one market and re-pledge them in another to meet margin requirements.

Clearing members have been advised to take note of these arrangements to ensure smooth market operations during the bank holiday on January 1, 2026.

NCCPL has encouraged members to reach out to its Customer Support Department for further assistance via its UAN or WhatsApp service.

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