KARACHI: In a bid to further strengthen efficiency and transparency of the capital market operations, the National Clearing Company of Pakistan Limited (NCCPL) has launched National Custodial Services (NCS) for the capital market investors.
The NCCPL provides clearing and settlement services to all three stock exchanges in the country. Through NCS, the investors would have an option to directly settle their trades and transactions with the NCCPL and also maintain the custody of securities and cash with NCCPL while they can continue to execute trades and transactions in the capital market with the Trading Right Entitlement Certificate (TREC) holder(s) of their choice.
NCCPL Board Chairman Nadeem Naqvi, during a press briefing, said that such a model offering security and transparency to investors was the need of the hour.
NCCPL CEO Mohammad Lukman asserted that the capital markets in Pakistan had great potential to attract investment and provide competitive returns; however, providing an efficient and transparent operating process was essential for continued development of the capital markets.
