A major relief for investors as the settlement process for shares sold on the stock exchange will now be completed in just one day.
The current "T+2" formula, which required two days for settlement, will be replaced by the "T+0" formula, enabling same-day transactions.
The National Clearing Company of Pakistan Limited (NCCPL) announced that the new system for buying, selling, and settling shares will be implemented starting December 23, 2024. According to an official notice issued by NCCPL, all trades through the stock exchange will now follow the new settlement system. Payments will be transferred directly from the account of the seller to the buyer's account within one day.
The notice also clarified that partial payments will not be accepted after the sale of shares. To facilitate the transition, NCCPL will organize awareness sessions for brokerage houses to ensure a smooth understanding of the updated trading mechanism.
The initiative is expected to enhance investor confidence and improve efficiency in the stock trading process.
