NCCPL launches pilot run for T+1 settlement cycle implementation

By MG News | April 07, 2024 at 05:14 PM GMT+05:00

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April 07, 2024 (MLN): The National Clearing Company of Pakistan Limited (NCCPL) has announced that the pilot run of the T+1 settlement cycle, a shortened settlement cycle from T+2, will commence by April 15, 2024.

In this regard, NCCPL has successfully conducted multiple sessions with concerned stakeholders which include CDC, PSX, Securities Brokers, Custodian Clearing Members, EClear and MUFAP to understand, highlight and review steps need to be taken for the transition to the settlement cycle to T+1.

After thorough deliberation and coordination with the concerned stakeholders, the final road map and date for the pilot run for the implementation of the T+1 settlement will be finalized by April 25, 2024, and shall be accordingly notified.

NCCPL is confident that the transition to a shorter settlement cycle can be handled efficiently at its end.

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