NCCPL issues LC filing deadline

August 26, 2025 (MLN): The National Clearing Company of Pakistan Limited (NCCPL) has directed all Securities Brokers (SBs) and Professional Clearing Members (PCMs) to submit their Audited/Reviewed (whichever applicable) Liquid Capital (LC) statements as of June 30, 2025.

SBs and PCMs whose financial year ends on June 30 must submit their external auditor reviewed LC statements by October 31, 2025, while those with December 31 year-end must submit their annual audited financial statements, including LC statements, by September 16, 2025.

NCCPL clarified that exposure will be allowed on the basis of the lower of audited and unaudited LC statements submitted under NCCPL Regulations 2015.

The notice also cautioned that failure to comply with submission timelines or shortfalls in liquid capital would lead to enforcement action under the Securities Brokers (Licensing & Operation) Regulations, 2016.

In such cases, trading facilities of the defaulting broker will be restricted, and only closure of open positions will be allowed.

Additionally, SBs are required to continue submitting monthly unaudited LC statements to the securities exchange and clearing house as per regulations, while PCMs must do so under NCCPL Regulations 2015.

NCCPL stated that submissions will be accepted only during business hours, up to 5:30 PM, with adjustments in its systems taking place within two working days.

 Copyright Mettis Link News