The Securities and Exchange Commission of Pakistan (SECP) in exercise of powers conferred under Section 40B, read with Section 20(6)(b) and 20(6)(g) of the SECP Act 1997, has directed Karachi Stock Exchange (KSE) to allow KASB Securities Limited (KSL) trading facilities in the ready market, SECP stated on Wednesday, adding that the decision was taken on the recommendation of KSE.
The apex regulator had stopped trading facilities of KSL at the KSE and Pakistan Mercantile Exchange Ltd (PMEX) on Nov 18, 2014.
SECP said that the Commission had instructed KSE to ensure following restrictions as pre-emptive measures while opening KSL trading facilities: In the ready market, the KSL can execute buy order against at least 50 per cent cash deposit and sell orders against at least 50pc pre-existing holding in CDS sub-accounts maintained with KSL.
