A major convenience has been introduced for investors, under which the proceeds from selling shares on the stock exchange will now be received within just one day, allowing investors to gain immediate financial benefit.
Previously, the payment for shares in the stock exchange was settled two days later, but now the T+2 formula will be replaced with the T+0 formula.
The National Clearing Company of Pakistan will introduce a new system for the buying, selling, and settlement of shares. The National Clearing Company will implement the new settlement system for share trading starting on December 23, 2024.
In a notice issued by NCCPL, it was stated that all T+0 traders through the stock exchange will work with the new settlement system, and the amount will be transferred from the seller’s account to the buyer’s account within one day.
The notice also stated that partial payment after the sale of shares would not be accepted, and the management would hold awareness sessions for brokerage houses to understand the trading mechanism.
