PSX targets 12 new listings in 2026, secures full World Federation of Exchanges membership

Pakistan Stock Exchange (PSX) plans to list 12 new companies in 2026 and has obtained full membership of the World Federation of Exchanges, according to PSX Chief Executive Officer Farrukh H Sabzwari.

Speaking at a joint media briefing with the chief executives of National Clearing Company of Pakistan Limited (NCCL) and Central Depository Company (CDC), Sabzwari said the exchange is continuing efforts to upgrade market infrastructure and improve investor access.

He said the number of Unique Identification Numbers reached a record 23,400 in January 2026, indicating higher participation in the capital market. PSX is also working with third-party vendors to introduce artificial intelligence-based data vending solutions to enhance market analytics and information services.

Sabzwari said there has been no progress on launching a gold exchange-traded fund, noting that commodities fall under the jurisdiction of the Pakistan Mercantile Exchange.

On settlement reforms, he said Pakistan has transitioned from a T+5 cycle over the past 25 years to the recently implemented T+1 system. The first T+1 settlements were completed through coordination among PSX, the Securities and Exchange Commission of Pakistan, NCCPL and CDC.

Under the new framework, securities are delivered one day after the trade, reducing settlement delays and credit risk while improving liquidity. Sabzwari said several major markets, including the United States, China, Canada, India, Mexico, Jamaica and Argentina, have adopted T+1 systems.

NCCPL Chief Executive Officer Naveed Qazi said Pakistan has become the eighth country to implement T+1 settlement, adding that several European countries are expected to adopt the system by 2027.

During the initial phase of T+1 implementation, transactions involving 931 million shares worth Rs60 billion were processed, with a net settlement value of Rs20 billion.