An official press release issued by the KSE cited that the new system would improve efficiency and transparency in reporting transactions that are executed outside the Karachi Automated Teller System (KATS).
At present, all off-market transactions are reported through a special interface provided to members on their National CHS terminals. Members are obliged to report to the KSE all such transactions before 5:00 pm on the same working day. But this reporting system is not real time.
Additionally, it also lacks transparency in revealing the terms of settlement. Through it, all transactions reported include daily quotations with quantity and price along with the member’s code.
The KSE management has planned awareness seminars to educate stakeholders about the use of the new reporting platform. They have also invited feedback from members for the implementation of the NDRC system.
Published in The Express Tribune, August 12th, 2010.
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