Pakistan Stock Exchange (PSX) has notified the listing of HBL Total Treasury Exchange Traded Fund managed by HBL Asset Management Limited (the Management Company) on completion of formalities required under its Exchange Traded Funds (ETFs) Regulations, according to the notification.
HBLTETF will be listed on the Exchange w.e.f. Monday, September 12, 2022, and trading in the Units of the ETF will commence on the same day in the Ready Delivery Contract Market through Karachi Automated Trading System (KATS) and will be settled through National Clearing Settlement System (NCSS) on T+2 basis, as required under clause 16.3 of the PSX Regulations.
The ETF aims to track the performance of the HBL Total Treasury Index (“HBLTTI” or the “Benchmark Index”). The Units of the ETF have already been declared CDS eligible by the Central Depository Company of Pakistan Limited and all the trades executed through the TRE Certificate Holders of the Exchange shall be settled by the National Clearing Company of Pakistan Limited (NCCPL).
The NCCPL has assigned the Security Symbol “HBLTETF” to the ETF. The Units of the ETF will be available in a market lot size of 500 Units with a face value of Rs. 10/- each. The Circuit Breaker shall be applicable as provided under Chapter 19 of the PSX Rule Book.
Habib Bank Limited has been appointed as the Authorised Participant (AP) and Market Maker of the ETF on a non-exclusive basis and is authorized to create & redeem the Units of the ETF and provide two-way quotes on daily basis as per the Market Making Agreement with the Exchange.
Recently, the National Clearing Company of Pakistan Limited has activated Habib Bank Limited as its Non-Broker Clearing Member Account in line with the implementation of the Financial Institutions Margining System.
The new status will enable HBL for direct clearing and settlement along with its risk management through the Institutional Delivery System (“IDS”) module of the National Clearing and Settlement System (“NCSS”) effective from September 09, 2022
