National Clearing Company of Pakistan Limited ("NCCPL")

NCCPL started its journey in the year 2001 as a public unlisted company. NCCPL provides the clearing and settlement services to all three stock exchanges in Pakistan through a state of the art automated National Clearing and Settlements System at par with international best practices. At NCCPL, the expertise and knowledge based resources nurture continuous provisioning of one window facilities and services.
The major sponsors include three stock exchanges and a reputed financial institution. The company has a strong governance structure. The Board of Directors consists of 13 members including nominee directors of the sponsoring institutions, representatives appointed by the Securities and Exchange Commission of Pakistan and the Federal Board of Revenue.
In addition to clearing and settlement of all trades and transactions carried out at stock exchanges, NCCPL also provides other value added services through a single settlement entity like Cross Exchange Netting, Broker-To-Broker Delivery System, Institutional Delivery System, Unique Identification Number System, Financial Institution Margining System, Margin Trading System, Margin Financing, and Securities Lending & Borrowing System etc amongst others. NCCPL has also been entrusted to compute, determine, collect and deposit Capital Gain Tax (CGT) on disposal of listed Securities in the new CGT regime promulgated by Federal Board of Revenue ("FBR").
NCCPL, in the year 2012, was mandated by the Federal Board of Revenue (FBR) to compute and collect the capital gain tax arising on disposal of listed securities. The seamless, efficient and accurate functionality not only facilitated the capital market investors but also contributed significantly towards national exchequer. The success of NCCPL's CGT regime persuaded FBR to include the FII in the CGT System. Accordingly, NCCPL has also incorporated Foreign Institutional Investments in its CGT regime effective July 1, 2014.
In pursuance of its endeavor to provide value added products and services; NCCPL has introduced an optional product - National Custodial Services (NCS) for capital market investors. NCS is an efficient trade management solution to offer the capital market investors with easy & advanced clearing, settlement and custodial services which makes trading easier and transparent. The capital market investors opting to avail NCS services will continue to transact in the capital markets through their respective TREC Holders. However, they will be able to directly settle their trades with NCCPL. Further, custody of cash and securities will also be maintained with NCCPL.