Karachi, Pakistan – EClear Services Limited (ESL) and the Central Depository Company of Pakistan (CDC) have marked a significant milestone with the successful integration of the RAAST payment system. This achievement reflects a collaborative effort to enhance efficiency in brokerage fund transfers across the capital market, with the solution implemented through SEAMS, the flagship back-office ERP powered by Microlinks.
Signing Ceremony and Industry Collaboration
The signing ceremony was held at CDC House on Friday, 15th August, to commemorate this milestone collaboration. Mr. Abdul Samad, Chief Operating Officer of CDC, and Mr. Zulfiqar Hyder Khan, CEO of EClear Services Limited, formally endorsed the partnership. Senior representatives from both organizations, as well as Microlinks, were present to witness the occasion, underscoring the industry’s shared commitment to advancing digital transformation in Pakistan’s capital market.
Seamless Real-Time Fund Transfers for Investors
This strategic integration leverages the State Bank of Pakistan’s instant payment system, RAAST, to enable seamless and secure real-time fund transfers from investors’ bank accounts directly into their brokerage accounts. With this enhancement, clients of EClear Services Limited can now benefit from immediate fund availability, enabling them to make faster and more agile investment decisions.
CDC’s Role as the Backbone of Pakistan’s Capital Market
CDC is the sole depository of Pakistan and serves as the infrastructure backbone of the country’s capital markets. CDC’s role as an aggregator has been pivotal in enabling RAAST integrations for brokerage firms. By bridging technological innovation with core financial infrastructure, CDC continues to drive digital transformation across Pakistan’s capital market.
Mr. Badiuddin Akber, CEO of CDC, stated:
“CDC is proud to play a central role in integrating RAAST with the brokerage ecosystem. We remain steadfast in our mission to strengthen Pakistan’s financial infrastructure through collaborative and forward-looking technology partnerships that enhance financial inclusion and operational excellence.”
EClear’s Leadership in Clearing & Settlement Services
EClear is Pakistan’s first Professional Clearing Member (PCM), providing clearing, settlement, and custodial services to trading-only brokers. This centralizes critical functions and reduces investor risks. As a key component of Pakistan’s post-trade market infrastructure, EClear plays a vital role in mitigating counterparty risk, enhancing transparency, and simplifying operations for its clients.
With a client base of 80 Trading Only (TO) brokers, EClear’s adoption of this solution extends value to brokers and their investors, broadening the impact across Pakistan’s capital market. Notably, the system’s seamless integration has allowed EClear to implement this initiative without additional human resource costs, resulting in significant savings while maintaining operational efficiency.
Mr. Zulfiqar Hyder Khan, CEO of EClear Services Limited, commented:
“Our partnership with Microlinks and CDC reflects our commitment to delivering efficient and investor-centric solutions for our clients. By integrating RAAST into our systems, we’re empowering our clients with greater speed, transparency, and operational ease critical factors in today’s fast-moving capital markets.”
Microlinks’ Commitment to Digital Transformation
Mr. Shahzad Ghulam Hussain, CEO of Microlinks, added:
“This integration underscores Microlinks’ commitment to delivering technology solutions that transform market operations and elevate investor experience.”
The integration is now live, enabling EClear Services clients to access real-time brokerage funding capabilities—marking a new era of speed, control, and digital convenience in their capital market transactions.
About the Organizations:
-
EClear Services Limited (ESL): Pakistan’s first Professional Clearing Member (PCM), providing clearing, settlement, and custodial services to trading-only brokers.
-
Central Depository Company (CDC): The sole depository of Pakistan, serving as the backbone of the country’s capital market infrastructure.
-
Microlinks: A leading fintech solutions provider, powering SEAMS the flagship back-office ERP for capital market operations.
This collaboration marks a transformative step in Pakistan’s financial ecosystem, reinforcing the commitment to innovation, efficiency, and investor empowerment.
