PAKISTAN: NCCPL Publishes Circular on T+1 Settlement Cycle

Friday April 12 2024

National Clearing Company of Pakistan Limited (NCCPL) published a circular that pilot run of the T+1 settlement cycle would commence on April 15^th, 2024. This is a continuation of NCCPL circular NCCPL/CM/JANUARY-24/07 issued January 16^th, 2024 regarding transition to a shorter settlement cycle from T+2 to T+1.

In this regard, NCCPL has conducted multiple sessions with concerned stakeholders which includes Central Depository Company of Pakistan (CDC), the Pakistan Stock Exchange (PSX), Securities Brokers, Custodian Clearing Members, EClear and Mutual Funds Association of Pakistan (MUFAP) to review steps needs to be taken for transition to settlement cycle to T+1.

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

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