The management of Karachi Stock Exchange (KSE) has announced that a special session for conversion of In-house badla to regular Continuous Funding System (CFS) was successfully arranged here on Saturday.
The KSE also announced that another session would be held in order to accommodate those brokerage houses which could not avail this facility on the said day. According to KSE, a number of brokerage houses availed this facility and converted their In-house badla positions into the CFS.
It may be pointed out that the conversion of In-house badla to CFS is one of the important features of the new risk management measures recently announced by the Securities and Exchange Commission of Pakistan (SECP).
The management of KSE reiterates its commitment to implement the reform agenda and new risk management measures in order to bring the systems in line with the international best practices within the agreed time frame.
In order to accommodate those brokerage houses, which could not avail this facility on Saturday (November 18) for whatsoever reasons, the KSE plans to hold another special session for this purpose for which a notice in advance shall be issued.
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