KSE issues working of DFC securities' electronic release

RECORDER REPORT

KARACHI: The Karachi Stock Exchange (KSE) that the functionality for electronic release of securities in Deliverable Futures Contract (DFC) has been designed, which would be deployed on NCHS terminals on November 28, 2011 through which the release request for securities will be processed electronically. Any excess release request will not be entertained by the system and will be rejected on the spot.

The KSE in its notice said that the following mechanism will be used for initiating the release:

* The release request could be processed through the 'Upload File Option' wherein members can upload their system generated Text file to process multiple of released requests at any moment of time. The Text file should have Participant ID, UIN, Sub-Account and Quantity separated by "!" sign. OR

* 'Symbol Search Release Option', wherein desired entries may be searched and released through the release form available on NCHS terminals. Following mechanism should be followed:

- Select the desired symbol code, and system will show the pledge position of such symbol along with the information of UIN, Sub-Account and the quantity.

- Enter the desired release quantity and click the submit button available on the bottom of the form.

- The system will generate message indicating the acceptance/rejection of the request.