PSX Glossary
Plain-English explanations of the terms behind Pakistan Stock Exchange data — the same concepts used across ClearCurve's money-flow, settlement, and scanner dashboards. Each entry starts with a one-paragraph definition you can rely on, then covers the mechanics and where to see the live data.
Participants & Flow
FIPI — Foreign Investor Portfolio Investment
FIPI (Foreign Investor Portfolio Investment) is the daily record of net buying and selling by foreign investors on the Pakistan Stock Exchange, published by NCCPL.
LIPI — Local Investor Portfolio Investment
LIPI (Local Investor Portfolio Investment) is the daily record of net buying and selling by local investor categories on the Pakistan Stock Exchange — individuals, mutual funds, banks/DFIs, companies, insurance firms, brokers, and other organizations — published by NCCPL..
Settlement
UIN — Unique Identification Number
A UIN (Unique Identification Number) is the single identity NCCPL assigns to each investor in Pakistan's capital market, linking all of that investor's accounts across every broker.
Delivery Ratio
The delivery ratio on the PSX is the share of a stock's traded value that went to actual delivery (settled per investor UIN) rather than being squared off the same day.
CM Settlement — Clearing Member Settlement
CM settlement is delivery measured at the Clearing Member (broker) level on the PSX.
T+2 Settlement
PSX ready-market trades settle on a T+2 cycle: shares and money change hands two working days after the trade date, cleared centrally through NCCPL with securities held at CDC..
Leverage & Futures
Blank Sale
A blank sale is Pakistan's regulatory term for a short sale — selling shares or futures contracts without owning them, intending to buy back cheaper.
MTS — Margin Trading System
MTS (Margin Trading System) is NCCPL's regulated platform for leveraged buying in the PSX ready market: financiers fund a portion of an investor's share purchase and earn a markup, with the shares held as collateral.
MFS — Margin Financing System
MFS (Margin Financing System) is broker-provided leverage on the PSX: a brokerage finances part of its client's share purchases against the shares as collateral.
SLB — Securities Lending & Borrowing
SLB (Securities Lending and Borrowing) is NCCPL's regulated platform where holders of PSX shares lend them for a fee to borrowers — typically short sellers who must deliver shares they have sold.
DFC — Deliverable Futures Contract
A Deliverable Futures Contract (DFC) is a single-stock futures contract on the PSX that settles by physical delivery of shares.
Open Interest
Open interest (OI) is the number of futures contracts that remain open — neither closed nor delivered — in a PSX Deliverable Futures Contract.
Rollover Week
Rollover week is the final week of a PSX futures contract month, when traders close positions in the expiring Deliverable Futures Contract and reopen them in the next month.
Market Mechanics
Free Float
Free float is the portion of a company's shares actually available for public trading — total shares minus sponsor, government, strategic, and other locked-in holdings.
Off-Market / NDM — Negotiated Deal Market
The Negotiated Deal Market (NDM) is PSX's channel for off-market trades: large block deals privately negotiated between two parties and then reported through the exchange, without passing through the regular order book..
Circuit Breakers
PSX circuit breakers cap how far a stock can move in one session — for most stocks, ±10% of the previous close or Rs 1, whichever is higher.
Indices & Corporate
KSE-100
The KSE-100 is the Pakistan Stock Exchange's benchmark index: 100 companies selected by sector representation and free-float market capitalization, weighted by free float.
KMI-30 — KSE-Meezan Index
The KMI-30 (KSE-Meezan Index) tracks the 30 most liquid Shariah-compliant companies on the Pakistan Stock Exchange, screened under criteria set with Al-Meezan / Meezan Bank's Shariah board and rebalanced semi-annually..
Face Value & Share Splits
Face value is a share's nominal (par) value, traditionally Rs 10 on the PSX.
Book Closure & Ex-Date
Book closure is the period when a PSX company freezes its shareholder register to determine who receives an announced dividend, bonus, or rights entitlement.