The KSE named NBP, OGDC and PTCL to introduce on KATS in Cash Settled Future Market (CSFM) that is scheduled to start from April 02, 2007. The Karachi Stock Exchange in a notice issued here on Thursday said that the trading of the said three companies under this new system would be held for 90 days.
The KSE board and SECP have already approved the symbols of the three companies as Oil & Gas Development Company's CSF Trading Symbol is OGDC-CJUN, National Bank of Pakistan as NBP-CJUN and Pakistan Telecommunication Corporation as PTC-CJUN.
The KSE in its notice said that as per the regulations governing the Cash Settled Future Counters, it is mandatory for the members to place a basic deposit of rupees five hundred thousand with clearing house to enroll in the CSF market. Furthermore, in order to take any position in the Cash Settled Futures Counter the members shall be required to maintain adequate cash margins beforehand.
It is learnt that more scrips are expected to include in this system. It is further learnt that the mock session to introduce this new system would be started in the next week.