At the request of the Securities and Exchange Commission of Pakistan (“SECP”), Diligence USA, LLC (“Diligence”) conducted a forensic examination of certain alleged manipulative and/or illicit activities related to the stock market events of March 2005, as transacted on the Karachi Stock Exchange (“KSE”). The primary allegations examined related to the withdrawal of regulated COT (“Carry ...
After a detailed meeting with the stock exchanges management, the Securities and Exchange Commission of Pakistan (SECP) on Thursday enhanced the CFS limit to Rs 55 billion for Karachi Stock Exchange (KSE); Rs 10 billion for Lahore Stock Exchange (LSE) and Rs 5 billion for the Islamabad Stock Exchange (ISE) from November 6. It also delayed ...
The directive from Securities & Exchange Commission of Pakistan (SECP) to the three stock exchanges to appoint a non-member director as the chairman of the stock exchanges came on Tuesday, as a bolt from the blue. Till late in the evening on Wednesday, it was not clear whether the directive was in place or was ...
Investors at capital market after reaching the limit under Continuous Funding System (CFS) have more avenues to finance shares to purchase, like in-house badla, futures options and other derivatives, soon to be formulated. After being effective from August 22, 2005, the CFS in 14 scrips has reached its upper limit of Rs 25 billion. The response of ...
The continuous funding system (CFS) took off at the Karachi Stock Exchange on Monday with enthusiastic investor’s response, as the KSE-100 index gained 279 points. According to analysts, the CFS rate on Monday stood at 16.9 per cent with the level of investment at Rs16.3 billion. KSE Chairman Yasin Lakhani told Dawn that the new system ...
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 ...
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 ...
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, ...
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 ...
