SECP ap­proves reg­u­la­tions for mar­ket mak­ers

The Pak Banker - - 2national -

IS­LAM­ABAD: The Se­cu­ri­ties and Ex­change Com­mis­sion of Pak­istan (SECP), in line with in­ter­na­tional best prac­tices, and to pro­mote liq­uid­ity in the cap­i­tal mar­ket, has ap­proved the reg­u­la­tions for mar­ket mak­ers for the Karachi Stock Ex­change. The mar­ket mak­ers play an im­por­tant role in the cap­i­tal mar­ket by pro­mot­ing liq­uid­ity in rel­a­tively less liq­uid se­cu­ri­ties by buy­ing and sell­ing these se­cu­ri­ties in re­turn for a bid spread, said a press re­lease is­sued here on Tues­day. The reg­u­la­tions broadly cover qual­i­fi­ca­tion cri­te­ria to be­come a mar­ket maker, qual­i­fi­ca­tion cri­te­ria for prod­ucts el­i­gi­ble for mar­ket mak­ing, en­force­ment ac­tions and ad­di­tional dis­clo­sure re­quire­ments cou­pled with the mar­ket mak­ing agree­ment, which is a key doc­u­ment agreed and signed be­tween the mar­ket maker and the cor­re­spond­ing ex­change on which the mar­ket maker un­der­takes to per­form mar­ket mak­ing ac­tiv­i­ties. -App

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