Karachi March 17 2022: Pakistan Stock Exchange (PSX) is going through an era of new developments and progress. PSX has made its mark by being the proud recipient of the Best Islamic Stock Exchange Award 2021 presented by Global Islamic Finance Awards (GIFA) in September 2021 and becoming an Affiliate Exchange of the World Federation of Exchanges in June 2021. Numerous developments and enhancements have taken place at the Exchange lately, adding to building the capital market’s momentum. With the launch of Online Account Opening facility, Sahulat Account facility, and many new equity listings such as several Exchange Traded Funds (ETFs) & two Growth Enterprise Market (GEM) listings, Pakistan’s capital market is consistently attracting increasing number of investors. These investors are best served when facilitated by the licensed TRE Certificate holders of PSX.
Business persons and entities, interested in leveraging upon the momentum of the capital market are encouraged to apply for Trading Right Entitlement (TRE) Certificates of PSX. PSX is pleased to invite applications for the issuance of 15 new Trading Right Entitlement (TRE) Certificates.
To apply for TRE Certificate, the applicant 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.
Any person meeting the Fit and Proper Criteria under Securities Brokers (Licensing and Operations) Regulations, 2016 (the Regulations) shall be eligible for the issuance of a TRE Certificate. The company which is issued new TRE Certificate shall get a license as a Securities Broker from Securities & Exchange Commission of Pakistan (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.
The applicant must comply with the financial resource requirements as prescribed in the Securities Brokers (Licensing and Operations) Regulations, 2016 for the relevant category i.e. Trading Only, Trading & Self Clearing and Trading & Clearing Securities Broker, for which the application is made.
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 08, 2022.
