The ‘Shaukat Tarin Committee’ will hold a meeting with all stakeholders of stock market on Thursday evening to give a final shape to a new mode of financing, in order to bring back investors to the lack-lustre stock market and improve liquidity.
According to sources, the Committee has improvised the recommendations to be placed with government officials expected to meet in Karachi on Friday, headed by D [...]
The Securities and Exchange Commission of Pakistan (SECP) has directed the Karachi Stock Exchange (KSE) to disseminate information of top 15 brokers for each futures contract on daily basis. According to a notification of the stock market regulator, “In order to ensure market transparency, effective risk management and to minimise market manipulation at the stock exchange, the Karachi Stock Exchange has been [...]
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Tagged KATS, KSE, SECP
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Lack of appropriate system to change the traditional badla to margin financing dried up the volumes, forcing the market to trade in a narrow band, resulting in serious drain market liquidity. According to a report presented to Shaukat Tarin – led Committee on “Stock Market Liquidity”, the stock market is driven by liquidity flows.
In case of Pakistan too, this is equally true. When the implementat [...]
The board of directors of Karachi Stock Exchange (KSE) has started a system for freezing total outstanding COT positions to Rs 12 billion, irrespective of individual scrip. According to a notice issued by the KSE on Monday, the governing board of directors of the Exchange in its meeting on July 16 reviewed the SECP directive, capping the COT value at Rs 12 billion in D G Khan Cement, Hubco, NBP, OGDC, Pak Oilfields [...]
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Tagged COT, KSE
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I am grateful to The News for its backhanded support to the phase-out of badla financing in its editorial “Badla is back” (July 15) – a provocative and totally misleading title which suggests that badla financing had been eliminated and has now been reintroduced. This is simply not true. Even the inference that the process has been rolled back is false. Nonetheless, the editorial makes a very impo [...]
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Tagged Badla, COT, KSE, SECP
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A regulator is an umpire or judge and should behave like one. He is required to be neutral and come to a reasoned decision after examining the facts. And once he comes to that decision, he should stand firm. If he backs down, the system will fail to deliver.
But firmness doesn’t appear to be the strong point of the Securities and Exchange Commission of Pakistan. The Regulator had announced that margin financi [...]
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Tagged Badla, COT, KSE, SECP
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