The Karachi Stock Exchange (KSE) has announced to arrange a special session for conversion of "In-house Badla to Continuous Funding System (CFS)" through an automated interface on Wednesday (November 29) from 4:00pm to 05:00pm.
The KSE in its notice issued here on Tuesday said that the management of KSE has already agreed with SECP to hold such a session. The said interface would be made available through National Clearing House System (NCHS).
The facility would only be allowed in 71 CFS eligible symbols during the session. Member should only enter second ticket buy/sell in the NCHS interface. The members have been provided with the printout for a ready reference.
The minimum premium rate would be one month KIBOR as currently applicable in CFS market for the session. The maximum premium rate would be one month KIBOR+10 as currently applicable in CFS market under the new system.
The entry of buyer and seller clients code should be in accordance with current UTN regulations, the system shall verify for the integrity and consistency of client codes mapped with UTN.
The KSE directed those members who were unable to use this option to download the newer version of NCHS or contact the IT Division of the KSE to resolve the problems in this regard.