KARACHI (APP) - The Karachi Stock Exchange (KSE) notified the listing of first-ever security on Over-The-Counter (OTC) market by listing of privately placed commercial papers (CPA) of Rs 1 billion of Engro Fertilizers Limited on the Exchange. According to KSE here Wednesday, the commercial papers will be listed on the Exchange from Monday, January 17, and trading in the Commercial Papers will commence one day after the date of formal listing i.e. from Tuesday January 18 as required under Clause No. 4(iv) of Schedule III of the Regulations. The trading in the Commercial Papers will take place on Negotiated Deal (ND) basis and settlement of trade will take place on counter party basis. The purpose of the OTC market is to provide investors an efficient and transparent source of investment, besides encouraging promoter to set up new industries or expand the existing enterprises by raising funds in a cost-effective manner in a listing regime where requirements are less stringent.