Karachi, November 19, 2012 (PPI-OT): In the exercise of the powers conferred under Section 34(1) of the Securities and Exchange Ordinance, the Karachi Stock Exchange Limited (KSE), with the prior approval of Securities and Exchange Commission of Pakistan have made amendments in Regulations Governing Stock Index Futures. Regulations Governing Market Making and Regulations Governing Cash Settled Futures.
These amendments have been sent for publication in the Official Gazette of Pakistan:
1. WAIVER OF BASIC DEPOSIT IN STOCK INDEX AND CASH SETTLED FUTURES: The requirement of basic deposit of Rs. 250,000/= for participation in the Stock Index Futures and Rs. 100,000/= for participation in Cash Settled Futures have been removed.
2. REDUCTION IN BASIC DEPOSIT FOR BECOMING A MARKET MAKER: The Minimum refundable deposit requirement of Rs. 250,000/= for becoming a Market Maker at Karachi Stock Exchange is reduced to Rs. 250,000/=
It s further informed that the update regulations containing other ancillary amendments, modified/new eligibility criterion are pasted on the KSE website for the ready reference and necessary information of Capital Market Participants, stakeholders, TREC Holding members and general public.
For more Information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136