Pakistan has implemented the T+1 settlement system at the Pakistan Stock Exchange (PSX), marking a major milestone by introducing next-day settlement of share trades and moving ahead of several European stock markets.

Officials from PSX, the National Clearing Company of Pakistan (NCCPL) and the Central Depository Company (CDC) briefed the media, saying the new system had become operational successfully, enabling settlement of equity trades within 24 hours.

NCCPL Chief Operating Officer Naveed Qazi said the successful rollout placed Pakistan among eight countries globally where the T+1 settlement system is in effect.

Speaking to Aaj News, he said a move to T+0 settlement was not impossible but would take time.

Managing Director PSX Farrukh Sabzwari said that on the first day of T+1 implementation, trades involving 930 million shares were settled, with a total value of Rs60 billion.

Sabzwari said investor interest continued to grow, adding that 23,500 new investor accounts were opened at PSX in January alone, a record for the exchange.

He also announced that dedicated women facilitation accounts would soon be launched to further enhance financial inclusion in the stock market.