AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad, October 11, 2012 (PPI-OT): After the corporatization and demutualization of the Islamabad Stock Exchange (ISE), amendments are being made in the regulatory framework of the ISE. The focus has been given on revising criteria for TRE Certificate Holder/brokers and regulations relating to investor protection. National Clearing Company of Pakistan Limited (NCCPL) is responsible for settlement of all trades done by the brokers of the three exchanges. However, so far such settlement is not guaranteed by the NCCPL.
Therefore due to default of any broker in delivery of shares and amounts, the settlement system is affected. In order to remove this issue, a Settlement Guarantee Fund is being established by the three exchanges that shall be managed by the NCCPL and the amounts of the Fund could be utilized in case of default of any broker. Moreover, for its further improvement, the risk management system of the broker presently being done by the exchanges is also being transferred to NCCPL for which the preparation of necessary regulations is in progress.
The ISE has recently listed Participation Term Certificates (PTCs) of the Treet Corporation Limited and the trading in these PTCs has started at ISE from October 11, 2012.
For more information, contact:
Islamabad Stock Exchange
ISE Towers
55-B, Jinnah Avenue, Islamabad, Pakistan
Tel: +92(51)111-473-473
Fax: +92(51)111-473-329
Email: info@ise.com.pk