The National Clearing Company of Pakistan Limited (NCCPL) has announced that only those financiers and finances shall be eligible to participate in CFS Mk-II Market (w.e.f. April 7, 2008), who have completed all the formalities with the NCCPL.
The NCCPL also said that only those broker clearing members who have submitted certificate of Net Capital Balance along with the allocated amount shall be able to participate in the CFS Mk-II as Financee affective from April 07, 2008. The NCCPL asked all those BCMs desirous of acting as Financee and Financiers in CFS Mk-II market to submit/confirm Addendum to the Agreement, Net Capital Balance Certificate duly certified by an Auditor (only for finances), Letter intimating the amount of Net Capital Balance to be allocated for CFS Mk-II (only for Finances), Availability of required PCs for CFS Mk-II and applicable fee and deposits (only for Non-Broker Financiers).
The BCMs shall be made eligible for participation in CFS Mk-II market as Financee and/or Financier as the case may be on next working day following the day of receipt of such documents/confirmation.