The Securities & Exchange Commission of Pakistan (SECP) has accepted the demand of the Karachi Stock Exchange (KSE) related to badla phasing system from margin financing, which failed to cheer the investors’ mood on Tuesday. The SECP, through a letter, informed the KSE which later on circulated as a notice for all members. The letter said that the Commission is pleased to note that the KSE board has decided to implement a number of the terms and conditions, agreed to by the Commission and the KSE in the meetings held on April 16 and 17, 2005, which are essential to ensure the smooth phase-out of COT.