KARACHI, Dec 12: There has been an induction of 40 more securities in the National Clearing and Settlement System (NCSS).

This was stated by the Central Depository Company (CDC) in a statement issued here on Thursday.

It announced the eligibility of 40 more securities for the purposes of NCSS with effect from December 17.

These securities, which will be settled under the Balance Order Settlement System will bring the total number of securities in NCSS to 188 as at present there are 148 securities that are successfully being settled through NCSS, the announcement added.

It said that with the introduction of a consolidated and geographically neutral clearing house, NCSS has expedited the settlement process of securities as well as helped the capital market in terms of providing stability by capping the systematic risk.

Further, an automated pay and collect system in NCSS promises an extraordinary transparency and efficiency in the working of the capital market once all securities join NCSS.—APP