NCCPL issues final reminder for securities brokers’ LC statements

MG News | March 11, 2024 at 03:13 PM GMT+05:00

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March 11, 2024 (MLN): The National Clearing Company of Pakistan Limited has issued a final reminder to Securities Brokers and Professional Clearing Members for the submission of their Audited/ Reviewed (whichever is applicable) Liquid Capital statement as of December 31, 2023.

In light of the above, SBs and PCM whose financial year ends June 30 shall submit their external auditor-reviewed LC statements to NCCPL by March 15, 2024.

SBs’ (or PCM) whose financial year end is December 31 shall submit their annual audited financial statements including LC statements to NCCPL by May 02, 2024.

Further, SBs’ who wish to allocate a portion of their LC for Debt Market trading are requested to intimate allocated values to NCCPL accordingly in line with the NCCPL regulations 2015.

The exposure will be allowed based on the Lower of Audited and Unaudited Liquid Capital Certificate submitted to NCCPL as per NCCPL Regulations 2015.

In addition to the above reviewed/ audited statements; CMs shall continue to submit monthly unaudited Liquid Capital statements with securities exchange and clearing house.

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