KARACHI: The Karachi Stock Exchange (KSE) will discontinue manual processing of cash deposits and release in near future and will implement cash management system (CMS) to manage all auto-deposit and auto-release of cash margins.

This system will also manage market-to-market differences and other changes related to KSE clearing houses. KSE has advised its members to get CMS facilities at the earliest to their own benefit.

The new system will ensure that all cash releases must be routed through new cash release form for CMS so that their excess cash can be released automatically without involving manual processes.

In this regard, KSE has asked its members to execute their tripartite agreements among their brokerage houses, Karachi Stock Exchange and settling banks and enjoy time efficient and transparent CMS facilities.

KSE has advised members to submit details about their settling banks account numbers and concerned contact persons to the exchange on non-judicial stamp papers for preparing tripartite agreements.