Pakistan to Transition to T+1 Settlement Cycle on February 9, 2026

Pakistan following in the footsteps of leading

developed and emerging markets such as the

USA, China, Canada, Mexico, and Argentina

Business Reporter

Karachi: In a landmark development for Pakistan’s capital markets, the National Clearing Company of Pakistan Limited (NCCPL), in collaboration with the Pakistan Stock Exchange (PSX), Central Depository Company of Pakistan Limited (CDC), and under the guidance of the Securities and Exchange Commission of Pakistan (SECP), has officially announced February 9, 2026, as the date for transitioning from a T+2 to a T+1 settlement cycle.

Pakistan aligns with global best practices

The Chairman of SECP highlighted that Pakistan is among the early adopters of the T+1 settlement cycle, following in the footsteps of leading developed and emerging markets such as the USA, China, Canada, Mexico, and Argentina. He emphasized that this alignment with global standards demonstrates the increasing maturity, resilience, and readiness of Pakistan’s capital markets.

Acknowledgment of stakeholders’ efforts

The Chairperson of the PSX Board, Dr. Shamshad Akhtar, expressed deep appreciation for the collaborative efforts of all stakeholders. She lauded the team’s commitment, adaptability, and faith in Pakistan’s capital market potential, stating that this strategic shift opens new avenues for progress.

Enhanced market efficiency and investor confidence

NCCPL CEO Naveed Qazi stressed the significance of transitioning to the T+1 settlement cycle, calling it a crucial move to boost market efficiency and investor trust. He also praised SECP’s initiative in forming an Implementation Committee comprising all key stakeholders to oversee a smooth transition process.

A step towards sustainable market growth

This successful shift, backed by strong regulatory leadership and industry-wide cooperation, marks a significant advancement in Pakistan’s capital market infrastructure. It is expected to reinforce investor confidence and support the long-term growth and competitiveness of the country’s financial markets.