Islamabad stock exchange listing regulations
The Competition Commission of Pakistan CCP has allowed six-month grace period for entering into a Unified Trading System UTS. This shall eliminate the present distortion of competition, and ensure availability of and access to the best price of commonly listed securities to all investors in order to restore competition in the market. In the event of non-compliance, KSE will be liable to pay a penalty of Rs50 million at the end of the six-month grace period and thereafter an additional penalty of Rs per day if non-compliance continues.
The UTS benefits all the players in the securities market as investors now have a common platform — hence best price can be made available and greater transparency can be ensured in the market.
Islamabad Stock Exchange - Wikipedia
The Islamabad stock market closed in the negative territory on Friday as investors booked profits. The ISE share index dropped by Of the total participant companies, 48 climbed upward and 73 turned negative. However, total turnover increased to 1. Unilever Pakistan was the top gainer as its share value shot up by Rs ICI Pakistan was the second major gainer as its share value increased by Rs 6.
Engro Chemicals was the major loser of the day as its share price declined by Rs 4. In terms of volume Arif Habib Securities was on top with 0. Section 1 Act honestly, fairly and with integrity Section 2 Due skill, care and diligence Section 3 Adequate resources and procedures Section 4 Information from clients Section 5 Information to clients Section 6 Conflicts of interest Section 7 Compliance Section 8 Client Assets Section 9 Senior management responsibility.
The current Code of Conduct for brokers is set out in the Third Schedule to the Brokers and Agents Registration Rules It does not include such things as operational controls, conflicts of interest and proprietary trading. The Code of Conduct was supplemented by a Directive issued on February 7, ; the objective of which was to safeguard public interest, prohibit unfair trade practices, inculcate good governance in business conduct and ensure that brokers do not engage in certain types of conduct in the Securities Market that are against the interests of investors.
One of the most important measures of a well regulated market is the level of investor confidence achieved through both the national legal environment and the market regulatory infrastructure.
Fair treatment of customers is one of the most islamabad stock exchange listing regulations elements of investor confidence. Ensuring that customers obtain fair treatment is the responsibility of the Securities Market Regulator which is achieved by laid down options on futures trading strategies and controls in a Code of Conduct.
D R A F T The benchmark for Codes of Conduct for brokers is set out in the IOSCO Objectives and Principles of Securities Regulation, May The Islamabad Islamabad stock exchange listing regulations Exchange ISE was incorporated as a guarantee limited Company on 25th October, in Islamabad Capital territory of Pakistan with interesting strategy binary options 60 seconds main object of setting up of a trading and settlement infrastructure, information system, skilled resources, accessibility and a fair and orderly market place that ranks with the best in the world.
The purpose for establishment of the stock exchange in Islamabad was to cater to the needs of less developed areas of the northern part of Pakistan. The ISE has set the highest standards of operational efficiency and is committed to support a climate of confidence and optimism that encourages and promotes trading activity. It also provides for conducive environment to channelize the small investments of the residents of less developed areas.
The ISE offers an easy access to both domestic as well as foreign investors and actively encourages the listing of eligible and profitable companies, both large and small to make it an exciting and diverse Exchange. The Exchange is playing a pivotal role for economic growth of the area thereby contributing towards the overall economic prosperity and welfare of the country. At present there are members out of which are corporate bodies including commercial and investment banks, DFIs and brokerage houses.
Listing rules of kse, lse, ise new
The other 18 Members are individual persons who are well educated, enterprising and progressive minded. The affairs of the Exchange are governed by the Board of Directors.
The Board of Directors consists of ten directors, of which five are elected member directors and four are non-member directors nominated by the SECP while the managing director by virtue of his office is the tenth director of the Board.
Regulations | SECP
In order to protect the interest of the investing public, an Investors Protection fund has been established by the Exchange. Since the inception of automated trading system ISECTSthe trade volume has been multiplying day by day and the average daily turnover has now crossed the figure of 1 million shares. Now all the listed securities are traded through the ISECTS.
The system of physical handling of shares and securities has been phased out and majority of the scrips are settled through Central Depository Company of Pakistan Limited.
The market capitalization stood at Rs. The pace of listing has remained slow as the economy of the Country is under consistent pressure due to internal as well as external factors. In comparison with major financial markets around the World, the functioning of capital market in Pakistan is still very much in its infancy and lacks advanced technology.
In this context efforts are being made to bring ISE in line with the International system and methodology. CCPCCP announcementIslamabad Stock ExchangeKSE enters UTS with LSE and ISELahore Stock ExchangeThe Competition Commission of PakistanUnified Trading SystemUTS.
ISE dropped by Arif Habib Securities toped ISEEngro ChemicalsIslamabad Stock ExchangeThe Islamabad stock marketUnilever Pakistan. The broad objectives of a Code of Conduct is that it should achieve the following: Ensure that information provided to customers enables them to take their investment decisions on an informed basis, promptly react against actual or potential losses, and reflect on the consistency between their investment objectives and strategies and theiractual portfolios.
Ensure that information provided to a customer: Ensure that a written contract setting out the rights and obligations of the parties has been concluded between the broker and its customers prior to the provision of investment services. Ensure that brokers manage conflicts of interest fairly and provide appropriate disclosure to their customers in this respect. Ensure that brokers establish a code a conduct for management and staff, and policies and procedures designed to ensure compliance with such a code and conduct of business rules generally.
The overriding principle is that a broker must at all times act honestly, fairly and professionally in accordance with the best interests of its customers and the integrity of the market. Posted in Islamabad Stock Exchange. Create a free website or blog at WordPress.