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KSE off-mkt news-system from Nov 1

KARACHI: Karachi Stock Exchange (KSE) has decided to introduce a new negotiated deal reporting system (NDRS) for equity and debt market segments, with effect from November 1, to make the reporting of all off market transactions on real-time and more transparent. According to KSE notice issued here Monday, presently, all off market transactions are reported via the special interface provided to members on their NCHS terminal. The members are obliged to report to the exchange all off-market transactions before 5:00PM or in case the deal takes place after market hours they are reported next day before 5:00 pm.
The same gets disseminated on the following day to the market, via daily quotations, with quantity, price and members code. All charges and taxes payable pertaining to off market transactions presently applicable shall remain in place, like wise.To implement the new system smoothly, the existing reporting interface on members’ NCHS terminals shall remain operative in parallel with new NDRS for further 15 days from November 01, 2010. Thereafter, all off market transaction shall mandatorily be reported to the Exchange via NDRS of the Exchange. -APP


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