PSX Introduces Post-Close Session For MSCI
2 months ago
In anticipation of substantial trading volumes and in light of certain classes of investors that are entering the market at the closing price, the management of Pakistan Stock Exchange (PSX) has announced the introduction of a Post-Close Session. The Post-Close Session will continue to be effective from Friday.
The subjected Post-Close Session shall begin after 30 minutes from the start of the Regular Market and shall last for 15 minutes, wherein, trading shall take place ONLY at the CLOSING PRICES of relevant stocks on time priority basis.
The Operations and IT department of PSX shall soon be releasing procedural modalities, including operational timings and schedule of mock session in respect of the same.
It is pertinent to mention here that the MSCI Inc. has announced the implementation of their reclassified Pakistan-inclusive EM Index. The start date of this implementation has been set for June 01, 2017. Based on T+2 settlement cycle,it is expected that the related orders will be coming to the market on or before May 30, 2017.