Karachi December 31 2021: MF Rollover facility shall be implemented with effect from December 31, 2021. Accordingly, MF transaction can be initiated by a Margin Financier with Margin Financee in marketable lots against any open MF Transaction Position when a change in the MF Transaction Value is required. Existing functionality of MF Rollover Transaction facilitating change in markup rate of an open MF position shall be modified to facilitate this process.
A rollover of MF Transaction can be initiated by Margin Financier when a change MF Transaction Value is required. at the time of initiation, the Margin Financier shall provide the revised rate of the MF open position.
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It shall be validated by the system that the revised rate provided by the Margin Financier is less than the price of MF Open position; whereas it shall also be validated that the revised price is greater or equal to the closing price. Input of revised price greater than MF Open position or reverting back to the original price shall not be allowed.
Initiating Margin Financier can cancel the initiated MF rollover transactions at any time before it is affirmed by the counter-party Margin Financee. The initiated MF rollover transaction shall be made available to the Affirming Margin Financee through MF Module.
Margin Financee shall not be allowed to edit the details of the initiated MF rollover transaction and shall have an option to affirm or reject the initiated MF rollover transactions within DTS on the trade date (T) and T+1. After affirmation of the transaction by Margin Financee, open position shall be calculated based on the revised price/value of respective Open position. If an initiated MF rollover transaction is neither affirmed nor rejected with DTS, such transaction shall automatically be dropped during End of Day process.
