Karachi March 26 2023: Pakistan Stock Exchange has offered 15 new Trading Right Entitlement (TRE) certificates for business persons and entities to leverage on the momentum and growth of PSX as a regional exchange par excellence, to take advantage of the revenue streams, and to expand your business and diversify into new markets.
"PSX is pleased to invite applications for the issuance of 15 new Trading Right Entitlement (TRE) Certificates in terms of sub section (4) & (5) of section 16 of Stock Exchanges (Corporatization, Demutualization and Integration Act, 2012) as amended by the Stock Exchanges (Corporatization, Demutualization and Integration) (Amendment) Act, 2015" the notification states.
As per Section 16(8) of the Act, only a private limited company (excluding Single Member Company) or a public limited company shall be eligible to obtain a license as a Securities Broker, which shall also comply with all of the relevant Rules & Regulations of SECP & PSX, including Securities Brokers (Licensing and Operations) Regulations, 2016 (SBLOR, 2016) and Chapter - IV of PSX Regulations.
Any person meeting the Fit and Proper Criteria under SBLOR, 2016 shall be eligible for the issuance of a TRE Certificate subject to the prior-permission from the Securities & Exchange Commission of Pakistan (SECP) as required in u/r 3A of SBLOR, 2016. The company which is issued new TRE Certificate shall get a license as a Securities Broker from SECP under the Regulations not later than six months from the date of issuance of such TRE Certificate and shall be required to commence business within three months from the date of the license as a Securities Broker as per Section 16(7) of the Act.
A fee of Rs.2.5 million for issuance of new TRE Certificate and a non-refundable application processing fee of Rs. 100,000/- is required to be paid through Pay Order in favour of PSX along with the application.
Companies interested in acquiring TRE Certificate are requested to submit the application along with requisite fees latest by April 28, 2023