Karachi, June 13, 2012 (PPI-OT): This is further to our Notice No. KSE/N-2572 dated May 17, 2012 for implementation of Cash Management System (CMS) managing auto-deposit and auto-release of Cash Margins, Marked-to-Market differences and other changes relating to KSE Clearing House.
Please note that the Exchange intends to discontinue manual processing of cash margin deposits and release in lieu of Exposure Margins and MtM Profits/Losses by end of July 2012, Therefore, you are hereby reminded to execute your tripartite agreement (s) among your Brokerage Houses, Karachi Stock Exchange and the Settling Bank (s) and enjoy time efficient and transparent CMS facilities. You are requested to submit the following information on your letter heads to the undersigned for preparing your tripartite agreement (s) on non-judicial stamp paper (s) by the Exchange:
a. Full Name of Settling Bank (s)
b. Addresses of Settling Bank (s) along with their Phone and Fax Numbers.
c. Full Bank Account Number with each Settling Bank for all markets, (Please note that separate Bank Accounts are not required for each market.)
d. Contact Persons of each Settling Bank (s).
e. Contact Person (s) of the Brokerage House
For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136
Category: Stock Exchange Announcements