PSX Sets 60 Minutes for Index-Based Market Halt

General

The Pakistan Stock Exchange (PSX) has set 60 minutes for Index-Based Market Halt. Accordingly, the Index-Based Market Halt shall be applicable in the last 75 minutes prior to the close of the market.

KSE-30 Index continues to trade 5%, above or below its last day closing index value for consecutive 5 minutes, the trading in all securities shall be halted for such duration as specified by the exchange.

Upon imposition of a market halt, the following measures shall be taken:

  • All equity and equity-based derivative markets shall be suspended.
  • The market shall have a five (05) minutes pre-open before its re-opening.
  • NCCPL shall collect margins including Mark-to-Market losses from its Clearing Members as per its Regulations.
  • Only those BCMs shall be allowed to trade after the resumption of trading for that day which have deposited the required margins with NCCPL.
  • Provided that the market halt shall not be applicable in case the KSE-30 index moves beyond 5% during such duration prior to the close of the market as specified by the Exchange.

 

Source: Propakistani