Revised Clearing and Settlement Schedule Announced by NCCPL Ahead of General Election 2024 Public Holiday

Karachi, In response to the public holiday declaration by the Election Commission of Pakistan for the upcoming General Election 2024 on February 8, the National Clearing Company of Pakistan Limited (NCCPL) has announced adjustments to its clearing and settlement schedule to accommodate market participants. This revision follows the notices PSX/N-114 dated February 2, 2024, ensuring smooth market operations around the election period.

For trades originally scheduled to settle on February 8, 2024, under the Regular Market T+2 basis, the revised settlement date will now be February 9, 2024. Trades that were set for settlement on February 9, 2024, will see a postponement to February 12, 2024. The adjustment aims to mitigate the impact of the trading halt on February 8, recognized as a public holiday for the General Election.

Furthermore, the NCCPL outlines specific guidance for the Off-Market (NDM) Settlement. Trades that were due for settlement on February 8 will be shifted to February 9, 2024. It is important to note that there will be no change in the settlement date for NDM trades previously scheduled for settlement on February 9, 2024.

The NCCPL has made arrangements to ensure market participants can navigate these changes without disruption. Market participants seeking clarification or assistance are encouraged to contact the NCCPL’s Customer Support Department directly or utilize the provided online resources, including WhatsApp support services.

The adjustments to the clearing and settlement schedule reflect the NCCPL’s commitment to maintaining market stability and continuity in the face of national events such as the General Election. Market participants are advised to review the revised schedule and make the necessary preparations to align with the updated settlement dates.