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PSX introduces 90-day futures contract

byMuhamad Arshad
June 19, 2021
in Business, Economy
Reading Time: 1 min read
0
PSX

Pic30-042 KARACHI: June30- A trader is busy on call as resumes business at the Pakistan Stock Exchange (PSX) building after a day terrorist attack on PSX in provincial capital. ONLINE PHOTO by Sabir Mazhar

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The Pakistan Stock Exchange (PSX) has launched a 90-day deliverable futures contract (DFC), meaning that settlement will take place 90 days after the purchase of stock on the forward counter.

Speaking at the launch of the 90-day DFC regime and new futures eligibility criteria, PSX Managing Director Farrukh Khan termed it a positive development for the stock market as well as the capital market.

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“The 90-day DFC shall open each month in such a way where the market shall have three different maturities (current month expiry, next month expiry, and last month expiry) at the start of each contract month,” he said.

“In addition to this, it will eliminate the need for a mandatory one-week rollover period as investors can roll over their existing positions any time before expiry, which will alleviate the rollover week pressure to some extent,” Khan said.

Tags: 90-dayDFCPakistan Stock ExchangePSXPSX Managing Director Farrukh Khan
Muhamad Arshad

Muhamad Arshad

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