Report Company
National Clearing Company of Pakistan Limited
INTRODUCTION:
National Clearing Company of Pakistan Limited (NCCPL),being the most significant infrastructure project of the capital markets through steady improvements in efficiency and reliability of its National Clearing & Settlement System (NCSS). The NCSS provides clearing and settlement services to all the three stock exchanges of Pakistan namely; The Karachi Stock Exchange, Lahore Stock Exchange and Islamabad Stock Exchange.
As a part of Capital Market Development Programme of Asian Development Bank (ADB) in Pakistan, the Capital Market Project Consultants (Arthur Anderson & Co.) mandated to develop recommendations for a National Clearing & Settlement System (NCSS).
Accordingly the Company was incorporated on July 3, 2001 to manage and operate the National Clearing & Settlement System (NCSS) in a fully automated electronic settlement system. NCSS Live Operations were commenced from December 24, 2001. However, the Company became fully operational in the year 2003-04 by inducting and handling clearing and settlement of all book-entry securities through NCSS. Thereafter, any security which becomes live in CDS, on ready status, is accordingly inducted into the NCSS.
National Clearing Company of Pakistan Limited (NCCPL),being the most significant infrastructure project of the capital markets through steady improvements in efficiency and reliability of its National Clearing & Settlement System (NCSS). The NCSS provides clearing and settlement services to all the three stock exchanges of Pakistan namely; The Karachi Stock Exchange, Lahore Stock Exchange and Islamabad Stock Exchange.
As a part of Capital Market Development Programme of Asian Development Bank (ADB) in Pakistan, the Capital Market Project Consultants (Arthur Anderson & Co.) mandated to develop recommendations for a National Clearing & Settlement System (NCSS).
Accordingly the Company was incorporated on July 3, 2001 to manage and operate the National Clearing & Settlement System (NCSS) in a fully automated electronic settlement system. NCSS Live Operations were commenced from December 24, 2001. However, the Company became fully operational in the year 2003-04 by inducting and handling clearing and settlement of all book-entry securities through NCSS. Thereafter, any security which becomes live in CDS, on ready status, is accordingly inducted into the NCSS.