The Pakistan Stock Exchange (PSX) has started discussions with existing shareholders of the National Clearing Company of Pakistan Limited (NCCPL) to acquire additional shares in the clearing company.

In a notice submitted to the Pakistan Stock Exchange, PSX said the talks are at an initial stage and no agreement or transaction has been finalized so far.

The development follows regulatory amendments introduced by the Securities and Exchange Commission of Pakistan (SECP) to the Clearing Houses (Licensing and Operations) Regulations, 2016 and the Central Depositories (Licensing and Operations) Regulations, 2016.

PSX said the amendments allow higher permissible foreign shareholding limits and update the method for calculating institutional ownership thresholds.

The exchange added that any material progress, including a definitive agreement, will be disclosed in line with regulatory requirements.

NCCPL is one of Pakistan’s three key capital market institutions, along with PSX and the Central Depository Company (CDC). It handles clearing and settlement of stock market transactions, manages counterparty risks, and operates the National Clearing and Settlement System (NCSS).

Established in 2001 under the Asian Development Bank’s Capital Market Development Program, NCCPL replaced separate clearing houses of the Karachi, Lahore, and Islamabad stock exchanges with a centralized clearing and settlement platform.

PSX is currently NCCPL’s largest shareholder, holding a 49.71 percent stake. Other major shareholders include LSE Ventures with 23.53 percent, ISE Towers REIT Management Company with 11.76 percent, and Pakistan Kuwait Investment Management Company with 15 percent.