The Karachi Stock Exchange (Guarantee) Limited’s Important Board Decisions
Karachi: The Board of Directors of Directors in its meeting No 5 of 2011 held on May 31, 2011 at the registered office of the Exchange has approved certain important measures to bring greater efficacy and attraction to the Stock Market.
The following summarized points of the proposals approved by the Board have been submitted to the Securities and Exchange Commission is noted below for Members’ information:
1. Allowing Rollover of Open long positions on the last day of DFM against MIS.
2. Accepting 100% collateral in the form of eligible securities with relevant haircut for DFM and MTS, while keeping M2M losses in cash.
3. Waiver of basic deposit from DFM Counter.
4. Removal of pre-delivery option from Futures Counter.
5. Weekly profit distribution on Deliverable Futures.
6. Profit retention beyond 20% on Deliverable Futures
7. Allowing individuals to lend in MTS, with 10% tax rate as full and final.
It should be noted that these measures are only KSE Board’s approved decisions recommended to the Securities and Exchange Commission. At this stage there is no intimation regarding SECP’s view point or any timeline of implementation.
For more information, contact:
Karachi Stock Exchange
Tel: +9221 111-001122
Fax: +9221 3241 0825, +9221 3241 5136