Karachi: This is further to notice no.KSE/N-335 dated January 30, 3012 on the subject matter.
Members of the Exchange are hereby informed that Tripartite Agreement to be executed among the Karachi Stock Exchange (KSE), the Broker and the Settling Bank has been finalized after incorporating certain recommendations received from three (3) out of all Settling Banks available in the premises of the Exchange and its final version along with Cash Management System (CMS) Procedures has been placed on KSE website www.kse.com.pk for your information and record.
We hereby reemphasize that Cash Management System (CMS) would facilitate our Brokers to electronically manage their Deposit and Release of Cash Margins/Mark-to-Market Losses with the Risk Management System of the Exchange. In order to avail such facility, a Broker of the Exchange would be required to follow the below mentioned procedures:
1. Understand and agree with the contents of the Tripartite Agreement and CMS Procedures available on KSE website.
2. Provide following information on your Letter Head duly signed by the authorized Signatory (ies) addressed to The General Manager, Risk Management Market Controls & Surveillance:
a. Full Name of Settling Bank(s)
b. Addresses of Settling Bank (s) along with their Phone and Fax Numbers.
c. Full Bank Account Number with each Settling Bank for all markets. (Please note that separate Bank Accounts are not required for each market.)
d. Contact Persons of each Settling Bank(s).
e. Contact Person (s) of the Brokerage House
3. Get dully filled-in Tripartite Agreement(s) on Non-Judicial Stamp Paper from the Exchange and fill-in the remaining fields and get it signed from Authorized Person (s) of the Broker and his Settling Bank (s).
4. After completing all formalities, get User IDs and virgin Passwords from the Exchange for accessing CMS for electronically processing Cash Management Transactions.
Members are encouraged to avail CMS access for their convenience and process efficiency.
We would be pleased to clarify if you have any query in this respect.
For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136