KSE seeks brokerage houses data

Posted on 02.28.07 by StockPK Team @ 12:15 pm    

The Karachi Stock Exchange (KSE) has urged its members to submit trading data of their brokerage houses for the period January to July 2006, by March 9, said a notification issued here on Tuesday.

The KSE made the announcement on the directives of the SECP. The KSE also asked its members to provide details of their clients along with trading data.

In response, the KSE members rejected the notification, saying the KSE held all the day-to-day data that it demanded from them.

Board meeting: The KSE board of directors in a meeting held here on Tuesday deliberated the past manual practice of roll-over in the Continuous Funding System to handle the entitlement of bonus/right shares declared by listed companies and credited in CFS blocked accounts of financiers, said a press statement.

The board having observed no inherent risk and flaw in the said system and in order to avoid chances of re-emergence of in-house badla on discontinuation of the same, decided to continue the said manual practice of exchanging/ entering contract tickets which has been in vogue at the exchange for the last many years.

The board decided to make efforts to evolve an appropriate electronic system to replace the manual one in consultation with the CDC and NCCPL.

Source: The News