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UN-LISTED TFC REPORTING THROUGH NCSS

It facilitates market participants to record their deals, executed in Un-Listed Debt Securities, in a disclosed manner by initiation and affirmation process. Accordingly, Reported Trades are disseminated to the Pakistan Stock Exchange Limited for its onward recording and intimation to all participants.

Following are the salient features of the Un-Listed TFC Reporting Module of NCSS:

  1. All existing Clearing Members of NCCPL can become Reporting Member for the recording of transactions in Un-Listed TFCs through Un-Listed TFC Reporting Module of NCSS.
  2. All CDS eligible Un-listed TFCs are Eligible for Un-Listed TFC Reporting Module of NCSS.
  3. Reporting Members have an option to determine the settlement value of Reported Transactions either through system price or manual price.
  4. Un-Listed TFC Reported Transactions are disseminated to all market participants through:
    • NCCPL’s Website; and
    • Stock Exchange

Interbank Fund Transfer (IBFT)

In order to provide facilitation in money settlement, NCCPL provides interbank fund transfers facility between Members through their accounts maintained in the Designated Branches of a Settling Bank. As per the electronic instruction given by Member, through a specific interface in NCSS, NCCPL provides fund transfer screen to the Designated Branch as per the Designated Time Schedule (“DTS”). Accordingly, the Designated Branch debit / credit the account of a Member. 

Salient Features: 

  • IBFT facility is made available to Members on NCSS to facilitate their Money Settlement.
  • By this facility, Members can initiate request to NCCPL for the transfer of funds from their any bank account maintained with the designated branch of NCCPL to any other bank account maintained with the designated branch of NCCPL.
  • According to IBFT request, NCCPL shall debit the amount from the bank account of Member and credit such amount in its own account through Pay & Collect Module of NCSS.
  • Upon collection of such Amount, NCCPL made inter-bank fund transfer through PRISM (on-line fund transfer system).
  • After such movement by settling banks, NCCPL passes instructions to the settling banks to credit the account of Member as per IBFT request and debit the bank account of NCCPL.

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