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WEEKLY
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| Roll-over facility allowed on CFS MK-II transactions |
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Wednesday, August 06, 2008
By our correspondent
KARACHI: The “roll-over facility” shall now be allowed on the release of CFS MK-II transactions by financee at any point of time during the entire contract period. Moreover, such roll-over facility shall also be allowed on the “force release” of CFS MK-II contract ie, on the 23rd business day of such contract.
The said changes are also catered in the CFS MK-II system and this facility will be available from August 06, 2008.
The board of the National Clearing Company of Pakistan Limited (NCCPL), with approval of the Securities and Exchange Commission of Pakistan (SECP), has made these amendments in the NCCPL Regulations pertaining to CFS MK-II Roll-Over mechanism, according to a NCCPL statement.
Margin eligible securities: KSE has revised the list of margin eligible securities. Deposit against exposure margins, market-to-market losses (where applicable) and special margins in the revised list of securities will be implemented effective from August 18.
In view of the above, members are requested to replace the shares deposited with the exchange which are not included in the revised list before August 18. After this deadline such shares for deposit against margins demand will not be accepted.
Capita Adequacy requirement certificate: Members of KSE are required to submit bi-annually a certificate from a practicing chartered accountant confirming their net capital balance as on Jun 30 and Dec 31 by Sep 30 and Mar 31 respectively, for the purpose of calculating their respective capital adequacy. Those who fail to do so will face a penalty of Rs5000 per day till the certificate is submitted.
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ISSN 1563-9479 
