Trade rectification session

KARACHI (APP)- Karachi Stock Exchange (KSE) will provide trade rectification session to its members, from April 15, 2010, to correct and report any erroneous trade carried out during the day on KATS through special interface. According to KSE here Thursday, this session will be held every day between 3:30 to 4:30 p.m. and between 4:30 to 5 p.m. on Friday on their NCHS-terminals. This will automatically change the settlement obligations of the previously executed erroneous trades to the rightful client/UIN of the respective trade. The option to change the price of the scrip will not be available in the mechanism. This step has been taken in accordance with the decision of KSE board of directors of December 22, 2009, to implement a transparent and standardized automated system for reporting erroneous trades.

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