KARACHI:
Pakistan Stock Exchange (PSX) plans to list 12 new companies in 2026 and has secured full membership of the World Federation of Exchanges (WFE), PSX Chief Executive Officer Farrukh H Sabzwari said on Wednesday during a special media briefing held with National Clearing Company of Pakistan Limited (NCCPL) CEO Naveed Qazi and Central Depository Company (CDC) CEO Badiuddin Akbar.
Sabzwari said that PSX continues to modernise its market infrastructure and strengthen investor access. He revealed that the number of Unique Identification Numbers (UINs) reached an all-time high of 23,400 in January 2026, reflecting growing participation in the capital market.
He added that PSX is working with third-party vendors to enable artificial intelligence-based data vending solutions to improve market analytics and information dissemination. However, he clarified that there has been no progress on launching a gold exchange-traded fund (ETF) because commodities fall under the jurisdiction of the Pakistan Mercantile Exchange.
Highlighting operational reforms, Sabzwari said Pakistan has successfully transitioned from a T+5 settlement cycle over the past 25 years to the newly implemented T+1 system. The market completed the first T+1 settlements successfully through coordinated efforts by PSX, the Securities and Exchange Commission of Pakistan (SECP), NCCPL, and CDC.
Under the T+1 framework, investors receive securities delivery the next day after a transaction, which reduces settlement delays, lowers credit risk, and enhances overall market stability. Faster transaction completion will allow investors quicker access to their funds and securities, improving liquidity flows in the capital market.
Sabzwari noted that major economies, including the United States, China, Canada, India, Mexico, Jamaica, and Argentina, have already implemented T+1 settlement systems.
NCCPL CEO Naveed Qazi said Pakistan has become the eighth country to adopt the T+1 settlement cycle. He added that several European countries plan to shift to T+1 by 2027. The new system will significantly reduce settlement-related uncertainties and operational risks.
During the initial phase of implementation, the market processed transactions involving 931 million shares worth Rs60 billion, with net settlement value recorded at Rs20 billion.
