PSX Adjusts Settlement Calendar Due to Ramadan Holiday 2026
To accommodate the banking holiday on Thursday, February 19, 2026 (1st Ramadan), the Pakistan Stock Exchange (PSX) and National Clearing Company of Pakistan Limited (NCCPL) have officially revised the trading and settlement calendar.
Since banks remain closed for public dealing on the first day of Ramadan, primarily due to Zakat deductions, the clearing cycle has been merged to ensure liquidity, settlement stability, and smooth market functioning.
This update is critical for investors searching for:
- PSX adjusts settlement calendar due to Ramadan holiday 2026
- PSX holidays 2026
- Pakistan Stock Exchange timings today
Below is the complete breakdown.
Revised Settlement Schedule – February 2026
The key change involves a merged settlement for trades executed immediately before and on the banking holiday.
| Trading Date | Trading Day | Settlement Date | Settlement Day | Cycle |
|---|---|---|---|---|
| Feb 18, 2026 | Wednesday | Feb 20, 2026 | Friday | Merged |
| Feb 19, 2026 | Thursday | Feb 20, 2026 | Friday | Merged |
| Feb 20, 2026 | Friday | Feb 23, 2026 | Monday | Regular |
What This Means
- Trades executed on Feb 18 and Feb 19 will both settle on Friday, Feb 20.
- Normal settlement resumes for trades executed on Feb 20.
- This temporary adjustment prevents disruption caused by the one-day banking closure.
Pakistan Stock Exchange Ramadan Trading Hours 2026
In addition to settlement adjustments, PSX has implemented compressed Ramadan trading hours for the holy month.
Monday to Thursday
- Market Open: 9:17 AM
- Market Close: 1:30 PM
Friday
- Market Open: 9:17 AM
- Market Close: 12:30 PM
Investors searching for Pakistan Stock Exchange timings today should note that Friday sessions close earlier during Ramadan.
Important Notes for Investors
No Netting Between T+1 and T+0 Trades
NCCPL has clarified:
- No netting will be allowed between T+1 and T+0 trades settling on Feb 20.
- Each transaction must be settled independently.
This prevents exposure mismatch and ensures clearing transparency.
MTS (Margin Trading System) Positions
- Leveraged buy positions executed on Feb 18 and Feb 19 must be taken up on the same day.
- These positions will not carry forward during the merged settlement window.
Traders using leveraged strategies should manage risk carefully during this compressed cycle.
Deliverable Future Contracts (DFC)
Settlement for March 2026 Deliverable Future Contracts (DFC) remains scheduled for:
- March 31, 2026
Unless further official notifications are issued, no changes apply to futures expiry.
PSX Holidays 2026 – Key Ramadan Closure
For investors asking about PSX holidays 2026, the confirmed holiday relevant here is:
- February 19, 2026 – Banking Holiday (1st Ramadan)
The stock exchange itself operates, but banking operations are closed for public dealing, prompting settlement adjustments.
Additional public holidays for 2026 will be announced separately through official PSX circulars.
Market Status Update – February 19, 2026
As of today:
- Banks are closed for public dealing.
- Zakat deduction procedures are being processed.
- The market follows adjusted operational protocols.
- Regular Ramadan trading schedule resumes Friday with early closing at 12:30 PM.
Why This Adjustment Matters
The merged settlement ensures:
- No liquidity crunch in the system
- Stability in clearing operations
- Reduced counterparty risk
- Smooth transition into Ramadan trading cycle
Such proactive measures maintain investor confidence and operational continuity.
Historical Context – Similar Adjustments in 2022
Investors searching for comparisons like “PSX adjusts settlement calendar due to Ramadan holiday 2026 2022” should note that similar adjustments were implemented in previous years when the 1st Ramadan coincided with a banking holiday.
This reflects a consistent regulatory approach rather than an extraordinary measure.
Final Advisory for Traders & Investors
During Ramadan:
- Monitor settlement obligations carefully.
- Avoid over-leveraging around merged cycles.
- Confirm margin positions before close.
- Track official PSX and NCCPL circulars.
