The National Clearing Company of Pakistan Limited (NCCPL) on Friday conducted a presentation on Margin Trading System (MTS) at Karachi Stock Exchange auditorium. Badiuddin Akbar, Head of Operations, NCCPL, in a detailed presentation highlighted the salient features of the new leverage product.
Acting managing director of Karachi Stock Exchange Haroon Askari and Chief Executive Officer of NCCPL Muhammad Luqman were also present on this occasion while a large number of the members of the exchange and their senior staff attended the presentation.
The MTS will be based on Securities (Leveraged Markets and Pledging) Rules, 2010 which were approved by SECP on February 18, 2011. Akbar said that the margin trading facility shall be made available only in eligible Securities and the eligibility criteria for MTS Eligible Securities will be reviewed by NCCP in accordance with its Regulations and any addition or deletion shall be done by giving at least 30 days'' prior notice.
The NCCP will act as an ''Authorised Intermediary'' and will be responsible to provide MTS to avail financing in Eligible Securities. He pointed out that NCCP would conduct another such presentation on MTS at Karachi Stock Exchange auditorium on Monday, February 21 while a mock session on the same would be held on Saturday.
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