This document provides an investor awareness guide for trading stocks on the Pakistan Stock Exchange (PSX). It outlines important responsibilities and requirements for investors including knowing your broker and ensuring they are properly registered, filling out standardized account opening forms correctly, understanding how customer funds and securities are segregated, how to place trading orders, and important rights for investors like receiving trade confirmations and account statements. The guide aims to educate investors and ensure they take a prudent approach when trading stocks on the PSX.
IDFC Floating Rate Fund_Key information memorandumTesssttest
This document provides key information about the IDFC Mutual Fund's Floating Rate Fund. It includes details such as the name and addresses of the mutual fund and its trustees, as well as instructions on how investors can obtain further documents like the Scheme Information Document and Statement of Additional Information from the fund house website or investor service centers. The document also summarizes that the Scheme particulars have been prepared according to SEBI regulations and that the units being offered have not been approved or disapproved by SEBI.
IDFC Gilt 2028 Index Fund_Key information memorandumJubiIdfcNfo
This document provides key information about the IDFC Mutual Fund's Gilt 2028 Index Fund. It includes details such as the name and addresses of the mutual fund and its trustees. Investors are advised to refer to the Scheme Information Document and Statement of Additional Information on the fund's website for more details on the scheme, risks involved, penalties and pending litigations before investing. The document also contains an application form for investing in the New Fund Offer during its opening and closing dates in March 2021.
This document provides key information about the IDFC Mutual Fund, including contact details, the purpose of the Key Information Memorandum, and how to access additional fund documents. It notes that the units being offered have not been approved by SEBI and outlines the risks. The document also describes the IDFC Gilt 2028 Index Fund, including its objective to track the CRISIL Gilt 2028 Index, the NFO dates, ongoing subscription details, and that it is suitable for investors seeking income over the target maturity period by investing in similar constituents to the index.
IDFC Gilt 2027 Index Fund_Key information memorandumJubiIdfcNfo
This document provides key information about the IDFC Mutual Fund's Gilt 2027 Index Fund. It includes details such as the name and addresses of the mutual fund and its trustees. It directs investors to refer to the Scheme Information Document and Statement of Additional Information on the fund's website for more details on the scheme, risk factors, penalties and pending litigations. The document also summarizes that the scheme aims to invest in constituents of the CRISIL Gilt 2027 Index and is suitable for investors seeking income over the target maturity period of 2027 while maintaining a moderate risk profile.
This document provides key information about the IDFC Mutual Fund, including contact details, the purpose of the Key Information Memorandum, and how to access additional fund documents. It notes that the units being offered have not been approved by SEBI and outlines how to invest during the new fund offer period or ongoing subscriptions. It also summarizes the investment objective, risk level and suitability of the IDFC GILT 2027 INDEX FUND scheme.
IDFC Emerging Businesses Fund_Key information memorandumJubiIDFCEquity
This document provides key information about the IDFC Emerging Businesses Fund, including its investment objective to invest in equity and equity-related instruments of small cap companies to create wealth over the long term. It lists the name and addresses of the mutual fund, asset management company and trustee company. It notes that the NFO period opens on February 03, 2020 and closes on February 17, 2020. Investors are directed to read the Scheme Information Document, Statement of Additional Information, and risk factors carefully before investing.
IDFC Emerging Businesses Fund_Key information memorandumIDFCJUBI
This document provides key information about the IDFC Emerging Businesses Fund, including its objective to create wealth over the long term by investing in equity and equity-related instruments of small cap companies. The fund is suitable for investors seeking high risk investments who understand their principal will be at moderately high risk. Details are provided about the fund name, management company, trustee company, and their addresses and website. The document directs investors to refer to other documents for further details on the scheme, risks, penalties, and pending litigations before investing.
IDFC Emerging Businesses Fund_Key information memorandumTravisBickle19
This document provides key information about the IDFC Emerging Businesses Fund, including its investment objective to invest in equity and equity-related instruments of small cap companies to create wealth over the long term. It lists the name and addresses of the mutual fund, asset management company and trustee company. It notes that the new fund offer period is from February 3 to February 17, 2020 and the scheme will reopen for ongoing transactions within 5 business days of allotment. Investors are directed to refer to other documents for further details on the scheme, risk factors and penalties.
IDFC Floating Rate Fund_Key information memorandumTesssttest
This document provides key information about the IDFC Mutual Fund's Floating Rate Fund. It includes details such as the name and addresses of the mutual fund and its trustees, as well as instructions on how investors can obtain further documents like the Scheme Information Document and Statement of Additional Information from the fund house website or investor service centers. The document also summarizes that the Scheme particulars have been prepared according to SEBI regulations and that the units being offered have not been approved or disapproved by SEBI.
IDFC Gilt 2028 Index Fund_Key information memorandumJubiIdfcNfo
This document provides key information about the IDFC Mutual Fund's Gilt 2028 Index Fund. It includes details such as the name and addresses of the mutual fund and its trustees. Investors are advised to refer to the Scheme Information Document and Statement of Additional Information on the fund's website for more details on the scheme, risks involved, penalties and pending litigations before investing. The document also contains an application form for investing in the New Fund Offer during its opening and closing dates in March 2021.
This document provides key information about the IDFC Mutual Fund, including contact details, the purpose of the Key Information Memorandum, and how to access additional fund documents. It notes that the units being offered have not been approved by SEBI and outlines the risks. The document also describes the IDFC Gilt 2028 Index Fund, including its objective to track the CRISIL Gilt 2028 Index, the NFO dates, ongoing subscription details, and that it is suitable for investors seeking income over the target maturity period by investing in similar constituents to the index.
IDFC Gilt 2027 Index Fund_Key information memorandumJubiIdfcNfo
This document provides key information about the IDFC Mutual Fund's Gilt 2027 Index Fund. It includes details such as the name and addresses of the mutual fund and its trustees. It directs investors to refer to the Scheme Information Document and Statement of Additional Information on the fund's website for more details on the scheme, risk factors, penalties and pending litigations. The document also summarizes that the scheme aims to invest in constituents of the CRISIL Gilt 2027 Index and is suitable for investors seeking income over the target maturity period of 2027 while maintaining a moderate risk profile.
This document provides key information about the IDFC Mutual Fund, including contact details, the purpose of the Key Information Memorandum, and how to access additional fund documents. It notes that the units being offered have not been approved by SEBI and outlines how to invest during the new fund offer period or ongoing subscriptions. It also summarizes the investment objective, risk level and suitability of the IDFC GILT 2027 INDEX FUND scheme.
IDFC Emerging Businesses Fund_Key information memorandumJubiIDFCEquity
This document provides key information about the IDFC Emerging Businesses Fund, including its investment objective to invest in equity and equity-related instruments of small cap companies to create wealth over the long term. It lists the name and addresses of the mutual fund, asset management company and trustee company. It notes that the NFO period opens on February 03, 2020 and closes on February 17, 2020. Investors are directed to read the Scheme Information Document, Statement of Additional Information, and risk factors carefully before investing.
IDFC Emerging Businesses Fund_Key information memorandumIDFCJUBI
This document provides key information about the IDFC Emerging Businesses Fund, including its objective to create wealth over the long term by investing in equity and equity-related instruments of small cap companies. The fund is suitable for investors seeking high risk investments who understand their principal will be at moderately high risk. Details are provided about the fund name, management company, trustee company, and their addresses and website. The document directs investors to refer to other documents for further details on the scheme, risks, penalties, and pending litigations before investing.
IDFC Emerging Businesses Fund_Key information memorandumTravisBickle19
This document provides key information about the IDFC Emerging Businesses Fund, including its investment objective to invest in equity and equity-related instruments of small cap companies to create wealth over the long term. It lists the name and addresses of the mutual fund, asset management company and trustee company. It notes that the new fund offer period is from February 3 to February 17, 2020 and the scheme will reopen for ongoing transactions within 5 business days of allotment. Investors are directed to refer to other documents for further details on the scheme, risk factors and penalties.
The document introduces the Chittagong Stock Exchange's Internet Trading System (ITS), which allows investors to trade stocks online from anywhere in the world. It describes how investors can open an account, view market data, place trades, and set up brokerage and bank accounts in Bangladesh to facilitate online trading and settlement of transactions. Key details on account registration, order placement, trade confirmation, and the settlement process involving Bangladeshi bank accounts are provided.
Merchant bankers must register with SEBI and are classified into 4 categories. They play an important role in public issues by furnishing information, maintaining books, and acting as an intermediary between the issuing company and authorities. They are also involved in loan syndication, underwriting, and advising companies. Merchant bankers must abide by SEBI's code of conduct regarding integrity, quality service, fair practices, best advice, secrecy, and compliance. Actions can be taken against merchant bankers for non-compliance.
This document provides instructions for registering a new client. It outlines the required forms and documentation, including:
1) The client registration form which requires client details, member details, and signatures.
2) The client agreement which must be explained to the client and initialed where required. It details the relationship between member and client and includes risk disclosures.
3) Required FICA documentation including identity documents, tax numbers, and address proofs depending on the client type (individual, company, trust, etc.).
4) Instructions for completing the forms correctly, explaining terms to the client, obtaining signatures, and registering the client. Members must ensure all requirements are met to properly register new clients.
The document provides an overview of the depository system in India and the roles of its key constituents. It discusses:
1) The historical background that led to the introduction of a depository system in India to improve settlement efficiency as trading volumes increased.
2) The key components of the depository system including depositories that hold securities electronically, depository participants that interface with investors, companies that issue securities, and investors.
3) The scope of audits for depository participants, which includes verifying compliance with regulations regarding account opening procedures, demat requests, delivery instructions, and addressing investor grievances.
The document provides an overview of Private Placement Programs (PPP), also known as high yield investment programs. PPPs involve the purchase and sale of bank instruments like medium-term notes (MTNs) with the goal of reselling them at a higher price for a profit. A minimum investment of $2 million is required. The document then answers common questions about PPPs, addressing their safety, procedures for submitting documents and blocking funds, expected yields and profits, and ability to withdraw invested amounts. Details are given around buying and reselling MTNs, with the goal of making a 50% profit per transaction through partnerships with trust companies.
REGULATIONS SURROUNDING THE LISTING OF Varun Vaish
The document discusses regulations surrounding the listing of securitized debt instruments in India. It outlines how amendments to the Securities Contracts Regulation Act in 2007 allowed securitized debt instruments to be publicly traded. SEBI then issued regulations in 2008 governing public offerings and listings of securitized debt instruments. This created a new market for these instruments with various players like originators, special purpose entities, trustees, and investors. SEBI also issued a listing agreement in 2011 to improve transparency and disclosure requirements for listed securitized debt instruments. However, issues around foreclosure laws and tax treatment of special purpose vehicle trusts still affect growth of the securitized debt market in India.
This material is for PGPSE / CSE students of AFTERSCHOOOL. PGPSE / CSE are free online programme - open for all - free for all - to promote entrepreneurship and social entrepreneurship PGPSE is for those who want to transform the world. It is different from MBA, BBA, CFA, CA,CS,ICWA and other traditional programmes. It is based on self certification and based on self learning and guidance by mentors. It is for those who want to be entrepreneurs and social changers. Let us work together. Our basic idea is that KNOWLEDGE IS FREE & AND SHARE IT WITH THE WORLD
This document appears to be an introduction or proposal for a study on the topic of dematerialization of securities. It includes the following:
- An introduction to the topic and objectives of studying dematerialization processes.
- An outline of the document structure, which will include chapters on literature review, company profile, data analysis, conclusion, and bibliography.
- A brief description of the methodology to be used, including both primary and secondary sources of data collection.
- Notes on the scope and limitations of the study, which will focus on the processes and services of depository participants.
This document summarizes the benefits of investing in the UTI Unit Linked Insurance Plan (ULIP). The ULIP is a single investment plan that provides multiple benefits, including life insurance coverage, opportunity for wealth creation through investment in equity and debt funds, tax benefits, and flexibility to choose the plan term and insurance amount. Some key benefits highlighted are life insurance coverage through a tie-up with LIC, accident cover, maturity bonus, transparent costs, and easy liquidity. The plan is suitable for long-term capital appreciation and investment in equity and debt instruments. All investments are subject to market risk.
This document outlines the terms and conditions for leasing or purchasing a financial instrument. It requires applicants to provide personal and company details. If approved, the provider will deliver a bank guarantee or standby letter of credit via SWIFT message, and the beneficiary will pay a 10-15% leasing/purchase fee. The document specifies procedures for instrument delivery, default terms, arbitration guidelines, and requires signatures from both parties agreeing to the terms.
This document discusses investment houses and securities brokers/dealers under Philippine law. It defines investment houses as enterprises that engage in underwriting securities of other corporations. Investment houses must be organized as stock corporations and meet minimum capitalization and ownership requirements. The document also defines securities brokers, dealers, and salesmen and outlines their registration and licensing requirements with the Securities and Exchange Commission. It discusses exempt securities and restrictions on borrowing by members, brokers, and dealers.
This document summarizes a trading agreement between Formula Investment House Ltd. and a client for setting up a self-managed account to conduct transactions based on foreign exchange rates and other financial assets. Key points:
- FIH will provide investment services to the client under the non-negotiable terms of this agreement, which FIH can amend at its discretion.
- The client accepts the terms by opening an account and funding it.
- The account can be used to conduct transactions in foreign currencies, contracts for differences, commodities, indexes and other assets offered by FIH.
- The client can appoint an agent to operate the account on their behalf but remains responsible for the agent's actions.
Underwriters are intermediaries appointed by issuing companies to subscribe to unsubscribed shares in a public issue. They must be registered with SEBI and meet capital adequacy and experience requirements. Underwriters enter agreements with clients specifying their obligations, commission structure, and timelines for subscribing to unsubscribed shares. They cannot benefit beyond their commission and their maximum obligation is capped at 20 times their net worth.
Underwriters are intermediaries appointed by issuing companies to subscribe to unsubscribed shares in a public issue. They must be registered with SEBI and have a minimum net worth of Rs. 20 lakh. Underwriters are responsible for subscribing to any unsubscribed shares within 45 days and cannot benefit beyond their commission from the issue. Bankers to an issue collect application forms and funds from investors and send them to the registrar, refunding any unapplied money. They must register with SEBI, maintain records for 3 years, and abide by its code of conduct.
Deed of Agreement Purchase SBLC 35+2 RWA_Payment Guarantee_Security DepositSGT K. K. Group
This document outlines an agreement for the purchase of a standby letter of credit (SBLC) between a seller and buyer. Key details include:
- The SBLC will have a face value of €000,000,000 or $000,000,000, with an initial tranche of the same amount.
- The purchase price is 35% of the face value plus 2% consultant fees.
- The buyer must pay a refundable security deposit of €250,000-€650,000 before the seller will provide the SBLC via SWIFT messages.
- The transaction involves multiple steps of payment guarantees, SWIFT messages, verification, payment, and hard copy delivery
The document discusses various topics related to depository accounts including:
1. Basic Services Demat Accounts (BSDA) which have limited services and charges to encourage financial inclusion and reduce costs for retail investors.
2. Nomination facilities for demat accounts which allow account holders to nominate up to 3 individuals to receive securities in the event of the account holder's death.
3. Procedures for transmission of securities in the event of an account holder's death, including requirements for nominees, surviving joint holders, and legal heirs. Requirements vary based on account type and settlement amount.
The Securities and Exchange Commission has issued new rules and regulations governing crowdfunding to allow startups and small businesses greater access to funding. Under the rules, crowdfunding must be conducted through registered intermediaries using online platforms. Issuers are limited to raising P10-50 million depending on investor qualifications. Investors' total investments across issuers are capped at 5-10% of annual income. Intermediaries must meet minimum capital and disclosure requirements to protect investors. The rules aim to support financial innovation while ensuring market integrity and investor protection.
A merchant bank provides capital to companies through equity ownership rather than loans. It also provides corporate advisory services. A merchant bank engages in various financial activities such as corporate finance advice, money market operations, lending, trade finance, investing, and fund management. Its services include corporate counseling, project counseling, working capital finance, portfolio management, restructuring strategies, credit syndication, and lease financing. A merchant bank caters to corporate firms and engages in primary market activities, taking on more risk than a commercial bank.
This document provides information on the roles and responsibilities of a merchant bank. A merchant bank provides capital to companies through equity ownership rather than loans, and provides corporate advisory services. It engages in a variety of financial activities including corporate finance advice, money market operations, lending, trade finance, investment holdings and fund management. Key services of a merchant bank include corporate counseling, project financing, working capital finance, portfolio management, restructuring strategies, and credit syndication. The document also outlines the differences between commercial and merchant banks and regulatory requirements for merchant banks related to public issues such as due diligence, underwriting obligations, and post-issue monitoring.
The document discusses regulations surrounding the listing of securitized debt instruments in India. It outlines how amendments to the Securities Contracts Regulation Act in 2007 allowed securitized debt instruments to be publicly traded by defining them as securities. Subsequently, SEBI issued regulations in 2008 governing public offerings and listings of securitized debt. This created a new regulatory framework for securitized debt markets involving originators, special purpose entities, trustees and investors. The key SEBI regulations and a 2011 listing agreement are summarized, covering disclosure requirements, asset transfer and bankruptcy remoteness, credit ratings, and ongoing reporting. Issues that may impact growth of India's securitized debt market are also mentioned.
The document introduces the Baldrige Framework, which provides a systematic approach for organizations to improve performance and achieve excellence. It outlines the seven categories that make up the criteria for the framework: leadership; strategic planning; customer focus; measurement, analysis and knowledge management; workforce; operations; and results. The categories are interconnected and form a closed feedback loop to help organizations align goals, measure progress, and continually improve. The framework can be used for self-assessment or to apply for the National Baldrige Award for Performance Excellence.
The document discusses the growth and evolution of India's stock market since the 1980s. The process of liberalization and deregulation that began in the late 1980s directly impacted the development of India's capital markets. The number of listed companies in India has grown substantially over this period, with India now having the highest number of listed companies in the world, over 10,000 as of the date of the document. The document then provides an overview of key concepts related to stock markets, including shares, stock exchanges, brokers, demat accounts, and how to invest in and track share investments.
The document introduces the Chittagong Stock Exchange's Internet Trading System (ITS), which allows investors to trade stocks online from anywhere in the world. It describes how investors can open an account, view market data, place trades, and set up brokerage and bank accounts in Bangladesh to facilitate online trading and settlement of transactions. Key details on account registration, order placement, trade confirmation, and the settlement process involving Bangladeshi bank accounts are provided.
Merchant bankers must register with SEBI and are classified into 4 categories. They play an important role in public issues by furnishing information, maintaining books, and acting as an intermediary between the issuing company and authorities. They are also involved in loan syndication, underwriting, and advising companies. Merchant bankers must abide by SEBI's code of conduct regarding integrity, quality service, fair practices, best advice, secrecy, and compliance. Actions can be taken against merchant bankers for non-compliance.
This document provides instructions for registering a new client. It outlines the required forms and documentation, including:
1) The client registration form which requires client details, member details, and signatures.
2) The client agreement which must be explained to the client and initialed where required. It details the relationship between member and client and includes risk disclosures.
3) Required FICA documentation including identity documents, tax numbers, and address proofs depending on the client type (individual, company, trust, etc.).
4) Instructions for completing the forms correctly, explaining terms to the client, obtaining signatures, and registering the client. Members must ensure all requirements are met to properly register new clients.
The document provides an overview of the depository system in India and the roles of its key constituents. It discusses:
1) The historical background that led to the introduction of a depository system in India to improve settlement efficiency as trading volumes increased.
2) The key components of the depository system including depositories that hold securities electronically, depository participants that interface with investors, companies that issue securities, and investors.
3) The scope of audits for depository participants, which includes verifying compliance with regulations regarding account opening procedures, demat requests, delivery instructions, and addressing investor grievances.
The document provides an overview of Private Placement Programs (PPP), also known as high yield investment programs. PPPs involve the purchase and sale of bank instruments like medium-term notes (MTNs) with the goal of reselling them at a higher price for a profit. A minimum investment of $2 million is required. The document then answers common questions about PPPs, addressing their safety, procedures for submitting documents and blocking funds, expected yields and profits, and ability to withdraw invested amounts. Details are given around buying and reselling MTNs, with the goal of making a 50% profit per transaction through partnerships with trust companies.
REGULATIONS SURROUNDING THE LISTING OF Varun Vaish
The document discusses regulations surrounding the listing of securitized debt instruments in India. It outlines how amendments to the Securities Contracts Regulation Act in 2007 allowed securitized debt instruments to be publicly traded. SEBI then issued regulations in 2008 governing public offerings and listings of securitized debt instruments. This created a new market for these instruments with various players like originators, special purpose entities, trustees, and investors. SEBI also issued a listing agreement in 2011 to improve transparency and disclosure requirements for listed securitized debt instruments. However, issues around foreclosure laws and tax treatment of special purpose vehicle trusts still affect growth of the securitized debt market in India.
This material is for PGPSE / CSE students of AFTERSCHOOOL. PGPSE / CSE are free online programme - open for all - free for all - to promote entrepreneurship and social entrepreneurship PGPSE is for those who want to transform the world. It is different from MBA, BBA, CFA, CA,CS,ICWA and other traditional programmes. It is based on self certification and based on self learning and guidance by mentors. It is for those who want to be entrepreneurs and social changers. Let us work together. Our basic idea is that KNOWLEDGE IS FREE & AND SHARE IT WITH THE WORLD
This document appears to be an introduction or proposal for a study on the topic of dematerialization of securities. It includes the following:
- An introduction to the topic and objectives of studying dematerialization processes.
- An outline of the document structure, which will include chapters on literature review, company profile, data analysis, conclusion, and bibliography.
- A brief description of the methodology to be used, including both primary and secondary sources of data collection.
- Notes on the scope and limitations of the study, which will focus on the processes and services of depository participants.
This document summarizes the benefits of investing in the UTI Unit Linked Insurance Plan (ULIP). The ULIP is a single investment plan that provides multiple benefits, including life insurance coverage, opportunity for wealth creation through investment in equity and debt funds, tax benefits, and flexibility to choose the plan term and insurance amount. Some key benefits highlighted are life insurance coverage through a tie-up with LIC, accident cover, maturity bonus, transparent costs, and easy liquidity. The plan is suitable for long-term capital appreciation and investment in equity and debt instruments. All investments are subject to market risk.
This document outlines the terms and conditions for leasing or purchasing a financial instrument. It requires applicants to provide personal and company details. If approved, the provider will deliver a bank guarantee or standby letter of credit via SWIFT message, and the beneficiary will pay a 10-15% leasing/purchase fee. The document specifies procedures for instrument delivery, default terms, arbitration guidelines, and requires signatures from both parties agreeing to the terms.
This document discusses investment houses and securities brokers/dealers under Philippine law. It defines investment houses as enterprises that engage in underwriting securities of other corporations. Investment houses must be organized as stock corporations and meet minimum capitalization and ownership requirements. The document also defines securities brokers, dealers, and salesmen and outlines their registration and licensing requirements with the Securities and Exchange Commission. It discusses exempt securities and restrictions on borrowing by members, brokers, and dealers.
This document summarizes a trading agreement between Formula Investment House Ltd. and a client for setting up a self-managed account to conduct transactions based on foreign exchange rates and other financial assets. Key points:
- FIH will provide investment services to the client under the non-negotiable terms of this agreement, which FIH can amend at its discretion.
- The client accepts the terms by opening an account and funding it.
- The account can be used to conduct transactions in foreign currencies, contracts for differences, commodities, indexes and other assets offered by FIH.
- The client can appoint an agent to operate the account on their behalf but remains responsible for the agent's actions.
Underwriters are intermediaries appointed by issuing companies to subscribe to unsubscribed shares in a public issue. They must be registered with SEBI and meet capital adequacy and experience requirements. Underwriters enter agreements with clients specifying their obligations, commission structure, and timelines for subscribing to unsubscribed shares. They cannot benefit beyond their commission and their maximum obligation is capped at 20 times their net worth.
Underwriters are intermediaries appointed by issuing companies to subscribe to unsubscribed shares in a public issue. They must be registered with SEBI and have a minimum net worth of Rs. 20 lakh. Underwriters are responsible for subscribing to any unsubscribed shares within 45 days and cannot benefit beyond their commission from the issue. Bankers to an issue collect application forms and funds from investors and send them to the registrar, refunding any unapplied money. They must register with SEBI, maintain records for 3 years, and abide by its code of conduct.
Deed of Agreement Purchase SBLC 35+2 RWA_Payment Guarantee_Security DepositSGT K. K. Group
This document outlines an agreement for the purchase of a standby letter of credit (SBLC) between a seller and buyer. Key details include:
- The SBLC will have a face value of €000,000,000 or $000,000,000, with an initial tranche of the same amount.
- The purchase price is 35% of the face value plus 2% consultant fees.
- The buyer must pay a refundable security deposit of €250,000-€650,000 before the seller will provide the SBLC via SWIFT messages.
- The transaction involves multiple steps of payment guarantees, SWIFT messages, verification, payment, and hard copy delivery
The document discusses various topics related to depository accounts including:
1. Basic Services Demat Accounts (BSDA) which have limited services and charges to encourage financial inclusion and reduce costs for retail investors.
2. Nomination facilities for demat accounts which allow account holders to nominate up to 3 individuals to receive securities in the event of the account holder's death.
3. Procedures for transmission of securities in the event of an account holder's death, including requirements for nominees, surviving joint holders, and legal heirs. Requirements vary based on account type and settlement amount.
The Securities and Exchange Commission has issued new rules and regulations governing crowdfunding to allow startups and small businesses greater access to funding. Under the rules, crowdfunding must be conducted through registered intermediaries using online platforms. Issuers are limited to raising P10-50 million depending on investor qualifications. Investors' total investments across issuers are capped at 5-10% of annual income. Intermediaries must meet minimum capital and disclosure requirements to protect investors. The rules aim to support financial innovation while ensuring market integrity and investor protection.
A merchant bank provides capital to companies through equity ownership rather than loans. It also provides corporate advisory services. A merchant bank engages in various financial activities such as corporate finance advice, money market operations, lending, trade finance, investing, and fund management. Its services include corporate counseling, project counseling, working capital finance, portfolio management, restructuring strategies, credit syndication, and lease financing. A merchant bank caters to corporate firms and engages in primary market activities, taking on more risk than a commercial bank.
This document provides information on the roles and responsibilities of a merchant bank. A merchant bank provides capital to companies through equity ownership rather than loans, and provides corporate advisory services. It engages in a variety of financial activities including corporate finance advice, money market operations, lending, trade finance, investment holdings and fund management. Key services of a merchant bank include corporate counseling, project financing, working capital finance, portfolio management, restructuring strategies, and credit syndication. The document also outlines the differences between commercial and merchant banks and regulatory requirements for merchant banks related to public issues such as due diligence, underwriting obligations, and post-issue monitoring.
The document discusses regulations surrounding the listing of securitized debt instruments in India. It outlines how amendments to the Securities Contracts Regulation Act in 2007 allowed securitized debt instruments to be publicly traded by defining them as securities. Subsequently, SEBI issued regulations in 2008 governing public offerings and listings of securitized debt. This created a new regulatory framework for securitized debt markets involving originators, special purpose entities, trustees and investors. The key SEBI regulations and a 2011 listing agreement are summarized, covering disclosure requirements, asset transfer and bankruptcy remoteness, credit ratings, and ongoing reporting. Issues that may impact growth of India's securitized debt market are also mentioned.
The document introduces the Baldrige Framework, which provides a systematic approach for organizations to improve performance and achieve excellence. It outlines the seven categories that make up the criteria for the framework: leadership; strategic planning; customer focus; measurement, analysis and knowledge management; workforce; operations; and results. The categories are interconnected and form a closed feedback loop to help organizations align goals, measure progress, and continually improve. The framework can be used for self-assessment or to apply for the National Baldrige Award for Performance Excellence.
The document discusses the growth and evolution of India's stock market since the 1980s. The process of liberalization and deregulation that began in the late 1980s directly impacted the development of India's capital markets. The number of listed companies in India has grown substantially over this period, with India now having the highest number of listed companies in the world, over 10,000 as of the date of the document. The document then provides an overview of key concepts related to stock markets, including shares, stock exchanges, brokers, demat accounts, and how to invest in and track share investments.
This document outlines the memorandum and articles of association for Pakistan Stock Exchange Limited. Key points include:
- The company was corporatized and demutualized pursuant to the Stock Exchanges (Corporatization, Demutualization and Integration) Act of 2012.
- The main objectives of the company are to operate as a stock exchange and regulate trading of various financial securities, and to develop and modernize facilities for trading, clearing and settlement of securities.
- The company has the power to make rules and regulations governing its operations and members, admit members, and charge fees for use of its facilities and services.
The liberalization and deregulation policies that began in the late 1980s directly impacted the development of India's capital markets. The number of listed companies in India grew substantially during this period, making it home to the highest number of listed companies in the world. An overview of the stock market discusses key terms like shares, stock exchanges, brokers, demat accounts, and how to buy and sell shares, track investments and make investment decisions. Stock exchanges help facilitate trading, provide liquidity and help in price discovery of securities.
This document outlines the memorandum and articles of association for Pakistan Stock Exchange Limited. It describes the company as limited by shares and corporatized/demutualized under the Stock Exchanges Act of 2012. The key objectives of the exchange are to regulate securities trading, maintain orderly markets, protect investors, and facilitate capital raising. It has powers to make rules for members, listings, trading, and dispute resolution. The exchange aims to develop the capital markets and promote transparency, integrity and professional standards.
This document outlines the memorandum and articles of association for Pakistan Stock Exchange Limited. It describes the company as limited by shares and corporatized/demutualized under the Stock Exchanges Act of 2012. The key points are:
- The company's name and registered office location.
- The company's main objectives are to operate as a stock exchange, regulate securities trading, and facilitate a fair and transparent market.
- Numerous ancillary objectives that support the main goals, such as making rules/regulations, resolving disputes, investing funds, and promoting professional standards.
The document provides information about the Pakistan Stock Exchange (PSX), which was formed in 2016 through the merger of the Karachi, Lahore, and Islamabad stock exchanges. It details the history and background of each exchange. The PSX is now owned 40% by a Chinese consortium and 60% by the public. The document also discusses the roles of brokers, how securities are traded, initial public offerings (IPOs), and key terms related to the stock exchange.
This document outlines the memorandum and articles of association for Pakistan Stock Exchange Limited. Key points include:
- The company was corporatized and demutualized pursuant to the Stock Exchanges (Corporatization, Demutualization and Integration) Act of 2012.
- The main objectives of the company are to operate as a stock exchange and regulate trading of various financial securities, and to develop and modernize facilities for trading, clearing and settlement of securities.
- The company has the power to make rules and regulations governing its operations and members, admit members, and charge fees for use of its facilities and services.
- Lahore Stock Exchange (LSE) is Pakistan's second oldest stock exchange, established in 1971 in Lahore. It has expanded significantly over time and is now the only domestic exchange with multiple trading floors.
- LSE's vision is to become a prominent multi-product trading place, respected corporate entity, and valued contributor to Pakistan's economy. Its mission is to deliver sustainable value and best satisfaction to all stakeholders.
- Key milestones in LSE's history include its establishment in 1970 and commencement of trading in 1971. It has grown operations over the decades and now trades various products on automated, electronic platforms.
This document is the Memorandum and Articles of Association for Pakistan Stock Exchange Limited (PSX). Some key points:
- PSX was corporatized and demutualized pursuant to the Stock Exchanges (Corporatization, Demutualization and Integration) Act of 2012.
- The main objects of PSX are to operate as a stock exchange and regulate trading of various financial securities. This includes admitting securities for trading, facilitating trading both electronically and physically, and maintaining fair and transparent markets.
- Ancillary objects allow PSX to make rules for members, levy fees, resolve disputes, invest funds, promote the exchange and capital markets, provide training, and generally support its operations
Principles of Managerial Finance (Lawrence G. Gitman, 13th ED.)-sAyYiEd.pdfSonamGulzar
Here are the step-by-step workings to solve this problem:
1) Fran will make annual deposits of $1,000 at the end of each year for 5 years.
2) The interest rate is 7% per year, compounded annually.
3) To calculate the future value, we use the ordinary annuity future value formula:
FV = Deposit × [(1 + Interest Rate)n - 1] / Interest Rate
Where:
FV is the future value
Deposit is the annual deposit amount ($1,000)
Interest Rate is the annual interest rate (7% = 0.07)
n is the number of periods (5 years)
Plugging into the formula:
FV
This document outlines key concepts related to the time value of money, including calculating present and future values. It discusses compound and simple interest, as well as formulas and tables for determining future and present value based on the principal, interest rate, and time period. Examples are provided to demonstrate calculating future value when deposits are made at the beginning or end of periods, as well as determining unknown interest rates or time periods given future and present values.
This document provides information about time value calculations including future value, present value, and annuities. It includes examples of future value, present value, and annuity calculations for different time periods and interest rates. The key points are:
- Future value and present value calculations allow you to determine the value of a lump sum amount over time or today based on the interest rate and time period.
- An annuity is a series of regular payments made over a period of time. Calculating the future or present value of an annuity considers the compounding effect of multiple periodic payments.
- An annuity due treats the first payment as being received at the beginning of the period rather than the end, resulting in a
Principles of Managerial Finance (Lawrence G. Gitman, 13th ED.)-sAyYiEd.pdfSonamGulzar
Here are the step-by-step workings to solve this problem:
1) Fran will make annual deposits of $1,000 at the end of each year for 5 years.
2) The interest rate is 7% annually, compounded annually.
3) To calculate the future value, we use the ordinary annuity future value formula:
FV = Deposit × [(1 + Interest Rate)n - 1] / Interest Rate
Where:
FV is the future value
Deposit is the annual deposit amount ($1,000)
Interest Rate is the annual interest rate (7%)
n is the number of periods (5 years)
Plugging into the formula:
FV = $1,000 × [(
1. The dividend of Denham Company, a textile manufacturer, is expected to remain constant at $3 per share indefinitely. Using the zero growth model, the value of Denham's preferred stock, if the required return is 15%, is $20 per share. Investors should invest.
2. The zero growth model values stocks based on a constant, perpetual dividend. For Denham Company, with a $3 dividend and 15% required return, the zero growth model values the stock at $20 per share.
3. Stock valuation models like the constant growth model and variable growth model allow dividends to grow at stable or changing rates over time. The variable growth model is used to value stocks when dividend
This document discusses common stock and preferred stock. It begins by explaining the key differences between debt and equity capital, noting that equity holders have subordinate claims on income and assets compared to creditors. It then describes the characteristics of common stock, including that common stockholders are the true owners of the company and have voting rights. Preferred stock has similarities to debt in that it has a stated dividend but no voting rights. The document also discusses how companies issue common stock, including through initial public offerings and venture capital financing.
This document provides an introduction to managerial finance by Prof. Dr. Salman Masood Sheikh. It outlines key concepts such as the role of the financial manager, forms of business organization like sole proprietorships, partnerships and corporations, and the goal of financial management which is maximizing shareholder wealth. It also discusses the agency problem that can arise between owners and managers due to conflicts of interest. The document provides an overview of the chapter topics to be covered.
The document provides a checklist for writing a report with 6 stages: 1) Planning, 2) Collecting Information, 3) Organization, 4) Writing, 5) Annexes and Appendices, and 6) Compilation. It outlines key points and actions required at each stage, such as understanding the purpose and audience, deciding on the structure and style, gathering relevant data, organizing the writing, and finalizing the report with references and formatting. The goal is to produce a well-structured, easy to understand report that meets the needs of the intended readers.
The document discusses bond valuation fundamentals. It defines key terms like principal, coupon rate, current yield, and yield-to-maturity. It explains how to calculate the price of a bond using the present value of future cash flows discounted at the required return. Specifically, it provides an example of valuing a 10-year, 10% coupon bond issued by Mills Company with a 12% required return, calculating a price of $887.02. It also defines current yield as the annual coupon interest divided by the current market price of the bond.
This document provides an overview of investing in equities/stocks. It discusses important considerations for investors such as understanding risks, costs, and various ways to become a shareholder through initial public offerings, rights issues, or trading on the secondary market. The document also outlines how to open a brokerage account, place trades, and get information as a shareholder. Key steps include researching brokers and understanding fees before buying or selling stocks.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the what's app number of my personal pi vendor to trade with.
+12349014282
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the what'sapp number.
+12349014282
The Rise of Generative AI in Finance: Reshaping the Industry with Synthetic DataChampak Jhagmag
In this presentation, we will explore the rise of generative AI in finance and its potential to reshape the industry. We will discuss how generative AI can be used to develop new products, combat fraud, and revolutionize risk management. Finally, we will address some of the ethical considerations and challenges associated with this powerful technology.
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
2. INVESTOR AWARENESS GUIDE
DISCLAIMER: Investors should not construe this guide as comprehensive and interpretive of all
applicable regulatory provisions. Investors are further advised in their own interests to read and
understand the applicable securities rules and regulations as framed by Securities and Exchange
Commission of Pakistan (SECP), PSX, Central Depository Company of Pakistan Limited (CDC)
and National Clearing Company of Pakistan Limited (NCCPL) to obtain complete understanding
of their rights and obligations.
The Pakistan Stock Exchange Limited (PSX) is issuing this ‘Investor Awareness Guide’ to educate
the investing public about their rights and obligations and guide them to take prudent approach
while trading in shares or futures contracts. This guide explains some significant provisions
regarding shares trading and settlement as well as investors’ protection.
3.
4. INVESTOR AWARENESS GUIDE
TABLE OF CONTENTS
Sr. # TITLE PAGE #
1 KNOW YOUR BROKERS/AGENTS AND THEIR REGISTERED BRANCHES 01
2 OPENING OF ACCOUNT IN OWN NAME 01
3 FILLING OF STANDARDIZED ACCOUNT OPENING FORM 01
4 PROVISION OF MANDATORY TARIFF STRUCTURE TO CUSTOMERS 02
5
UNIFORMITY OF INFORMATION MAINTAINED IN SAOF, STANDARDIZED
SUB-ACCOUNT OPENING FORM OF CDC AND UNIQUE IDENTIFICATION
NUMBER (UIN) DATABASE OF NCCPL:
02
6
REQUIREMENTS RELATING TO SEGREGATION OF CUSTOMERS’ MONEY
AND SECURITIES
03
7 PLACEMENT OF TRADING ORDERS/INSTRUCTIONS 03
8 ONLINE TRADING 03
9 OBLIGATION OF CUSTOMERS TO DEPOSIT MARGINS 04
10 MODES OF PAYMENTS /RECEIPTS 04
11 TRANSMISSION OF CONTRACT NOTES / TRADE CONFIRMATION 04
12 SMS AND/OR E-ALERTS BY NCCPL AND CDC FOR SECURITIES TRADES 05
13 CONFIRMATION OF SECURITIES POSITIONS THROUGH CDC 05
14
RIGHT TO OBTAIN LEDGER DETAILS SHOWING CASH AND SECURITIES
POSITIONS
05
15
MANDATORY PROVISION OF QUARTERLY ACCOUNT STATEMENTS BY
PSX BROKERS
06
16 FACILITY TO OPEN INVESTOR ACCOUNT WITH CDC 06
17
SETTLEMENT OF TRADES DIRECTLY THROUGH NCS OF NCCPL AND DSS
OF CDC
06
18 ON-LINE ACCESS THROUGH UIN INFORMATION SYSTEM OF NCCPL 07
19 PRESCRIBED RISK DISCLOSURE DOCUMENT 07
20
PROHIBITION ON GIVING GUARANTEE OF FIXED/SPECIFIC RETURN TO
CUSTOMERS
07
21 COMPLAINT HANDLING MECHANISM 08
22
REGULAR VISITS TO WEBSITES OF SECP, PSX, CDC, NCCPL AND
JAMAPUNJI
08
23 DEFINITION OF KEY TERMS USED IN THIS GUIDE 09
24 GENERAL PROCESS OF TRADING IN A SECURIITIES MARKET 10
5. INVESTOR AWARENESS GUIDE 01
1. KNOW YOUR BROKERS/AGENTS AND THEIR REGISTERED BRANCHES:
The Securities Brokers (Licensing and Operations) Regulations, 2016 framed under Securities
Act, 2015 require a broker to be licensed and registered as Securities Broker (hereinafter
referred to as “PSX Broker”) with SECP in order to perform the functions of a PSX Broker.
Similarly, the agents of PSX Broker must also be registered with SECP to perform the functions
of agent.
To verify the registration details of PSX Brokers and their agents is the first prudent step all
investors should take to ensure that they trade through a duly registered person and at a
registered place. Therefore, investors should seek from PSX Brokers/agents the information
relating to their registration numbers and other related details prior to commencing business
with them and match the same with their registration details including details relating to their
registered branch offices available on PSX website: www.psx.com.pk and Jamapunji:
www.jamapunji.pk.
The above verification is very crucial, because if you do business with an unregistered PSX
Broker or agent that later embezzles your money and/or securities or goes out of business,
there may be no way for you to recover your money or even lodge complaint with SECP or
other capital market institutions i.e. PSX, CDC and NCCPL. Therefore, it is strongly advised to
all investors to make sure that they deal through the registered PSX Broker and/or it agents
and at their registered branches/offices.
2. OPENING OF ACCOUNT IN OWN NAME:
Customers are advised in their own interest to open trading account with PSX Brokers in their
own name and are encouraged to operate the account themselves. However, in case Customer
wishes to authorize a trustworthy person to operate the trading account, he/she should furnish
written authorization for the same with PSX Broker while opening the account. The customer
must retain a copy of such authorization for record purpose.
Customers must note that they will be responsible and liable for any consequences including
but not limited to losses and claims that may arise or incurred by virtue of transactions
executed in their account on the instructions of their authorized persons. Please keep in mind
that such authorization carries risk of misuse of authority and may lead to fraud. Therefore,
Customers need to be mindful of any bogus activity in their account and carefully select a
person being authorized to operate their account in order to ensure that all trades executed
in their account remain in their knowledge.
3. FILLING OF STANDARDIZED ACCOUNT OPENING FORM:
The PSX Brokers are required to adopt Standardized Account Opening Form (SAOF) for each
of their Customers. The SAOF is a primary source of contractual agreement that contains
minimum Terms and Conditions binding on the PSX Broker and its Customers equally.
6. INVESTOR AWARENESS GUIDE 02
It is mandatory for Customers to fill all relevant fields of the SAOF provided by the PSX
Broker for commencing trading in the stock market and strike out fields which are either
irrelevant or not applicable. This will ensure that all information mentioned in the forms remain
in their knowledge and no other information can be added without their knowledge. Provision
of correct, complete and current information in the SAOF and furnishing the supporting
documents by the Customers are necessary to establish their identity and enable the
regulators to serve them effectively. The Customers should read and understand all terms and
conditions of the SAOF and obtain from their Broker a copy of SAOF duly signed by the
Customer and the PSX Broker for his/her information and record purposes.
The SAOF that must be adopted by the PSX Brokers for their Customers is prescribed in
Annexure-I to Chapter 4 of the PSX Regulations.
Note: PSX Regulations are available in in both English as well as Urdu Language in Legal
Framework Section of PSX website: www.psx.com.pk.
4. PROVISION OF MANDATORY TARIFF STRUCTURE TO CUSTOMERS:
Every PSX Broker is required by law to provide its Customers a duly signed copy of
applicable tariff schedule containing the following information:
(a) Commission rate and any other charges;
(b) Applicable regulatory levies i.e. trade or transaction fee of PSX, CDC, NCCPL and SECP etc.
(c) Applicable statutory levies i.e. taxes and duties of federal and provincial government.
Customers must receive from its PSX Broker a copy of the aforesaid tariff structure at the time
of opening account and read the same to determine the transaction cost. No change in the
commission rate shall take effect unless the change is agreed and duly signed by the Customer
and the PSX Broker.
5. UNIFORMITY OF INFORMATION MAINTAINED IN SAOF, STANDARDIZED SUB-
ACCOUNT OPENING FORM OF CDC AND UNIQUE IDENTIFICATION NUMBER
(UIN) DATABASE OF NCCPL:
It is important that the Customer information provided in the SAOF should match with the
information provided in UIN database of NCCPL for developing UIN of such Customer as well
as the Standardized Sub-Account Opening Form of CDC opened by the PSX Brokers for such
Customers for custody and settlement of Customers’ securities. Customers must ensure that their
registration details such as CNIC number, mobile number, email address and residential
address are correctly recorded in the SAOF, Central Depository System (CDS) of CDC and
National Clearing and Settlement System (NCSS) of NCCPL.
Further, Customers must ensure to sign the CDC Setup Report provided by the PSX Broker
after verifying the correctness and completeness of the information.
7. INVESTOR AWARENESS GUIDE 03
6. REQUIREMENTS RELATING TO SEGREGATION OF CUSTOMERS’ MONEY AND
SECURITIES:
PSX Brokers are required by law to keep their customers’ money and securities segregated
from their own money and securities and restricted from using customers’ funds and securities
for their own purpose/benefit. While opening the account, customers give express (one-time
fixed) authority to the PSX Broker to handle their securities maintained with the PSX Broker,
for transactions exclusively meant for certain purposes which are laid down in CDC Sub-
Account Opening Form. Customer are required to carefully read those purposes and never
sign a document provided by the PSX Broker without fully understanding its purpose and
associated terms and conditions.
7. PLACEMENT OF TRADING ORDERS/INSTRUCTIONS:
Customers should give order instructions to the PSX Brokers as per the acceptable mode of
communication in writing, verbally through telephone/mobile or online through internet based
trading systems for each trade. The Customers should take due care and be diligent while
giving order instructions and indicate clearly whether the order is buy, sale or short sale order.
Customer should note that the Blank Sale (i.e. Sale without having Pre-Existing Interest) at the
time of placing sale order is strictly prohibited in the ready/regular (T+2) settlement market.
However, such Blank Sale is allowed in the Deliverable Futures Contract Market through
special order F8 window designated in the Karachi Automated Trading System (KATS) for
Blank Sale subject to the limits specified in Chapter 13 of PSX Regulations.
Additionally, visiting Customers placing verbal orders to the PSX
Brokers/Representatives/agents should also provide written acknowledgement of such orders
to the PSX Brokers/Representatives/agents.
8. ONLINE TRADING:
Trading in securities market has been made easier, economical and faster through the
introduction of online trading services. Although it offers Customers many benefits, online
trading may not be completely secure and reliable and may cause delay in transmitting
information or execution of instructions due to technological barriers. It is important for the
Customers to know the risks involved in online trading and learn the important security
features to keep their trade information confidential and secure. Moreover, the Customer must
acknowledge that they shall be solely responsible for any consequences arising from online
trading or due to disclosure of the access codes and/or passwords to any third person or any
unauthorized use of the access codes and/or passwords.
8. INVESTOR AWARENESS GUIDE 04
9. OBLIGATION OF CUSTOMERS TO DEPOSIT MARGINS:
Customers should deposit all applicable margins (exposure margins, mark to market margins
and any other applicable margins) as required by PSX Broker for their trades in any market.
Such margins can be deposited in any form as permitted under Schedule II to Chapter 12 of
NCCPL Regulations.
10. MODES OF PAYMENTS /RECEIPTS:
It is mandatory for the Customers to receive all payments from PSX Brokers only through
crossed cheques/bank drafts/pay orders or any other banking channels in their own name.
Similarly, Customers should make payments to the PSX Brokers through "A/c Payee Only"
crossed cheque, bank drafts, pay orders or other banking channels drawn on their own bank
account and obtain receipt thereof. In case of cash payment (allowed maximum up to
Rs25,000), Customers should obtain proper receipt specifically mentioning if payment is for
margin or the purchase of securities.
However, PSX Brokers may accept cash from Customers in excess of Rs25,000 in exceptional
circumstances where it becomes necessary for them to do so only through deposit in the PSX
Broker’s bank account designated for clients. The Brokers are required to report such
exceptional instances with rationale thereof to PSX within one trading day through prescribed
reporting mechanism.
11. TRANSMISSION OF CONTRACT NOTES / TRADE CONFIRMATION:
PSX Brokers must deliver to its Customers a contract note in respect of daily trades for the
purchase, sale or exchange of securities of the Customers within 24 hours of trade execution
through a verifiable mode of communication as designated by the Customers. Such
contract/trade confirmation notes should include all details of the trades as well as name,
license number and address of the PSX Broker as well as the commission rate and other
applicable fees/levies charged on such trade(s).
Customers should ensure that they receive the contract notes from PSX Brokers through which
they have traded and verify that the executed trades are same as instructed by the
Customers.
In case contract note is not issued or it contains any discrepancy, Customer should report the
same to the PSX Broker within one trading day otherwise the trade shall be considered
conclusive and binding on the Customer. If the PSX Broker does not rectify the discrepancy or
does not respond to Customer, the Customer should immediately file a complaint with
Regulatory Affairs Division of PSX in writing by submitting a duly filled Investors’
Complaint/Claim Form, either in hard form or through online e-complaints at
http://csir.psx.com.pk or through email at investor.complaints@psx.com.pk.
9. INVESTOR AWARENESS GUIDE 05
The Complaint/Claim Form can be downloaded by visiting the link 'Investor Center’ section of
PSX website: www.psx.com.pk.
12. SMS AND/OR E-ALERTS BY NCCPL AND CDC FOR SECURITIES TRADES:
In order to keep Customers updated about their trades and transactions in a fast, easy and
convenient manner while keeping the confidentiality of information intact, NCCPL provides
trading information to Customers through SMS and/or email at day end for all trades and
transactions executed on their UIN during the day. Similarly, CDC provides SMS and/or e-
alerts to Customers regarding movement of their shares in CDS.
In order to benefit from such messages/e-alert facilities and to track daily trades and
maintain record thereof, Customers are strongly advised to provide and update their valid
mobile number and/or email address of their own to NCCPL and CDC.
13. CONFIRMATION OF SECURITIES POSITIONS THROUGH CDC:
Customers can contact CDC for obtaining updated information regarding their securities
position in their sub-accounts as per CDC record and match that information with the securities
positions as per back-office record of PSX Broker obtained by the Customer from PSX Broker.
In case of any discrepancy between the securities position as per the information provided by
CDC and the securities position provided by PSX Broker, the Customer should immediately
report the same to PSX Broker for removal of the discrepancy. In case of non-cooperation or
non-resolution of the issue, the Customer should immediately file a complaint with Regulatory
Affairs Division of PSX in writing by submitting a duly filled Investors’ Complaint/Claim Form,
either in hard form or through online e-complaints at http://csir.psx.com.pk or through email at
investor.complaints@psx.com.pk.
The Complaint/Claim Form can be downloaded by visiting the link 'Investor Center’ section of
PSX website: www.psx.com.pk.
14. RIGHT TO OBTAIN LEDGER DETAILS SHOWING CASH AND SECURITIES
POSITIONS:
The Customers have a right to obtain a copy of ledger statement specifying cash and
portfolio positions of their account opened and maintained with the PSX Broker under official
seal and signature of the PSX Broker or its authorized representative on periodic basis. In
case of any discrepancy in the ledger statement, Customers are required to inform the same
to the PSX Broker within one (1) trading day of receipt of the ledger statement to remove such
discrepancy. In case of non-resolution of any discrepancy, the Customers should report the
same to the PSX. The name of authorized representative of PSX Broker is displayed at the
entrance of its branches/offices.
10. INVESTOR AWARENESS GUIDE 06
15. MANDATORY PROVISION OF QUARTERLY ACCOUNT STATEMENTS BY PSX
BROKERS:
In order to safeguard Customers’ assets kept with PSX Brokers and ensure transparency in the
securities industry, every PSX Broker must provide to its Customers a quarterly account
statement within 15 days of close of each quarter through any of the acceptable modes of
communication as designated by Customer for this purpose. The quarterly statement must show
cash ledger statement with opening and closing cash balances, securities positions as per back
office record of PSX Broker and securities position as per CDS record along with reconciliation
of any differences therein.
Customers must obtain, read and verify the quarterly statements provided by the PSX Broker
to ensure that the same reflect the true position of cash and securities as per the clients’ order
instructions given to the PSX Brokers during the quarter. In case of any discrepancy, the
Customer should immediately report the same to PSX Broker for removal of the discrepancy
and also inform the same to PSX at investor.complaints@psx.com.pk. In case of non-
cooperation or non-resolution of the issue, the Customer should immediately file a complaint
with Regulatory Affairs Division of PSX in writing by submitting a duly filled Investors’
Complaint/Claim Form, either in hard form or through online e-complaints at
http://csir.psx.com.pk or through email at investor.complaints@psx.com.pk.
The Complaint/Claim Form can be downloaded by visiting the link 'Investor Center’ section of
PSX website: www.psx.com.pk.
16. FACILITY TO OPEN INVESTOR ACCOUNT WITH CDC:
CDC provides an excellent option to the Customers to open and maintain Investor Account
directly with CDC for secure and safe custody of securities as they are directly maintained by
CDC without the involvement of PSX Broker. Investor Accountholders have direct and complete
control over their securities as this account is operated only on instructions of investor(s).
Multiple ‘Value Added Services’ are available on this account round the clock for viewing
Account & Cash Balance, Account & Cash Activities through dedicated web portal, Interactive
Voice Response (IVR), SMS, e-Statement & e-Alerts.
17. SETTLEMENT OF TRADES DIRECTLY THROUGH NCS OF NCCPL AND DSS OF CDC:
In order to bring increased efficiency and transparency to the clearing and settlement process
of Customers’ trade and to provide maximum protection to their cash and securities, CDC and
NCCPL have launched National Custodial Services (NCS) and Direct Settlement Services (DSS)
respectively for the stock market investors.
Under these services, the PSX Brokers will only be involved for trade execution while NCCPL
or CDC will provide clearing, settlement and custodial services for such trades. For this
11. INVESTOR AWARENESS GUIDE 07
purpose, the investors shall open web-based NCS account with NCCPL or IAS account with
CDC.
These direct settlement facilities enables the investors to maintain their cash and securities
balances directly with NCCPL and/or CDC. To obtain full information regarding these
services, Customers are advised to visit Products & Services section of NCCPL website:
www.nccpl.com.pk and Businesses section of CDC website: www.cdcpakistan.com.
18. ON-LINE ACCESS THROUGH UIN INFORMATION SYSTEM OF NCCPL:
In order to enhance transparency, foster investors’ confidence and minimize risk of
misappropriation of clients’ securities, NCCPL has developed a web-based UIN Information
System (UIS) to enable investors to track their trading, settlement and related information. This
system enables UIN Holders to view all their trading, settlement and relevant information with
their respective brokers in a smooth and efficient manner through dedicated User ID and
Password. The application form of UIS is available on the NCCPL’s website www.nccpl.com.pk
or can be obtained directly from NCCPL’s Offices.
19. PRESCRIBED RISK DISCLOSURE DOCUMENT:
In order to facilitate Customers in understanding the risks and making well informed investment
decisions in light of their financial situation, investment objectives and risk appetite, PSX has
formulated a specimen of a Risk Disclosure Document as required under Clause 13(1) of the
Securities Brokers (Licensing and Operations) Regulations, 2016. The Risk Disclosure Document
provides important information about the various risks associated with trading and investment
in financial instruments being traded at PSX.
PSX Brokers must provide the Risk Disclosure Document to their every new Customer and
obtain an undertaking duly signed and dated by the Customers confirming that they have
understood the nature and contents of the Risk Disclosure Document.
Hence, the Customers are required to carefully read and understand the Risk Disclosure
Document in their own interests prior to commencing business with PSX Brokers.
20. PROHIBITION ON GIVING GUARANTEE OF FIXED/SPECIFIC RETURN TO CUSTOMERS:
PSX Brokers are licensed to carry out functions relating to buying, selling, exchanging or
subscribing for securities or effect transactions in securities for Customers or on their own
account. PSX Brokers are prohibited under the law from raising deposits from public/investors
against fixed or guaranteed returns of deposits because these activities of brokers are illegal
and tantamount to defrauding the public. Customer must know that investment in securities
contain volatility risk that makes their return inherently unpredictable.
12. INVESTOR AWARENESS GUIDE 08
Customers should be cautious of these illegal activities and should not give deposit by
whatever named called, to any PSX Broker as the same is illegal and any claim in respect of
such illegal deposit would not be considered/entertained by PSX as the same is beyond the
scope of legitimate capital market activities.
21. COMPLAINT HANDLING MECHANISM:
In case a Customer has any dispute with a PSX Broker/Representative in connection with any
trade or transaction and is not otherwise settled amicably, the Customer can lodge complaint
with PSX for resolution of dispute through mediation or arbitration to be conducted in
accordance with the arbitration procedures prescribed under Chapter 18 of the PSX
Regulations. Such complaints can be lodged with Regulatory Affairs Division of PSX in writing
by submitting a duly filled Investors’ Complaint/Claim Form, either in hard form or through
online e-complaints at http://csir.psx.com.pk or through email at
investor.complaints@psx.com.pk.
The Complaint/Claim Form can be downloaded by visiting the link 'Investor Center’ section of
PSX website: www.psx.com.pk.
22. REGULAR VISITS TO WEBSITES OF SECP, PSX, CDC, NCCPL AND JAMAPUNJI:
The websites of SECP, PSX, CDC and NCCPL make available copies of all applicable laws,
rules, regulations, guidelines, circulars, notifications etc. issued from time to time.
Additionally, the information relating to all procedures, processes and requirements to open
and maintain account with PSX Brokers, various products and services offered by PSX, CDC
and NCCPL to facilitate the Customers are disseminated clearly and prominently through the
websites of these institutions. Customers are advised to visit regularly these websites to keep
themselves updated and make well-informed and prudent investment decisions.
We wish to re-emphasize that it is extremely important for the Customers to regularly monitor
their cash and securities balances and maintain documentary record of their business
transactions. Customers must immediately report to the concerned PSX Broker or to PSX in case
of any discrepancy in their cash or securities balances or they do not receive the requisite
trade confirmation notes, periodic account statements, SMS and/or e-alerts etc.
13. 09
INVESTOR AWARENESS GUIDE
DEFINITION OF KEY TERMS USED IN THIS GUIDE
1. CUSTOMER: Customer is defined in Section 2 of the Securities Act, 2015 as “a person
on whose behalf a regulated person carries on any regulated securities activity and
includes any person commonly known as an investor”
2. REPRESENTATIVE: Representative is defined in Section 2 of the Securities Act, 2015 as
“an individual, by whatever name called, in the employment of or acting for or by
arrangement with, a regulated person, who carries out for that regulated person any
such activity (other than work ordinarily performed by accountants, clerks or cashiers),
whether or not he is remunerated, and whether his remuneration, if any, is by way of
salary, wages, commission or otherwise; and includes any officer of a company who
performs for the company any such activity whether or not he is remunerated, and
whether his remuneration, if any, is by way of salary, wages, commission or otherwise
and includes an agent of a regulated person;
3. SECURITIES BROKER: Securities Broker is defined in Section 2 of the Securities Act,
2015 as “a trading right entitlement certificate holder or “TRE” certificate holder who,
by way of business,
(a) makes or offers to make with any person or induces or attempts to induce any
person to enter into or to offer to enter into, any agreement for or with a view to
buying, selling, exchanging or subscribing for, securities; or
(b) solicits or accepts any order for or otherwise trading in, or effects transactions in,
securities for clients or on its own account;”
4. SALE WITH PRE-EXISTING INTEREST: Sale with Pre-Existing Interest is defined in Clause
2 of the Securities Brokers (Licensing and Operations) Regulations, 2016 as “the
squaring up of:
(i) an earlier purchase in the same settlement or in a different settlement which will settle
prior to the settlement of the sale; and
(ii) an open position in margin trading or margin financing as a financee on account of
same UIN of same security.”
14. INVESTOR AWARENESS GUIDE 10
GENERAL PROCESS OF TRADING IN A SECURIITIES MARKET
1. Investors desirous of investing in the securities of listed companies should first open a
trading account with any of the registered PSX Brokers duly licensed with SECP to
perform function as Securities Broker.
2. Open an Investor Account with CDC or Sub-Account with Broker for settlement and
custody of shares.
3. Broker may require the Customers to deposit a margin money with it upfront.
4. Customers should give clear order instruction to PSX Broker for every buy or sale trade;
5. PSX Broker places the trade order in the automated trading system of PSX;
6. PSX Broker provides trade confirmation to its Customers showing full details of the buy
or sale order executed on the KATS within next 24 hours of the trade execution along
with disclosure of commission charges and other levies/taxes applicable on such trade;
7. Customer must receive trade related alert from NCCPL through SMS and/or email for
their trades at relevant day end.
8. The Customer should also receive an alert either through SMS or e-mail for movement
of their shares at day end from CDC.
9. The Customer can register for UIS services of NCCPL to monitor their trades executed
by the PSX Broker and securities position available as per NCCPL’s record at day end.
10. For buy trades, Customers must have sufficient funds available with PSX Brokers (with
NCCPL or CDC in case of NCS or DSS Customers, as the case may be, on trade date)
on settlement date to settle such buy trade.
11. After payment of settlement amount, the shares are transferred into CDS account of
Customer on settlement day and the customer becomes the beneficial owner of such
shares. Similarly, for sale trades, the Customers must have sufficient shares on settlement
date (with NCCPL or CDC in case of NCS or DSS Customers on trade date) to settle such
sale trade. After receipt of payment from the buying party, the shares are delivered to
the buying party and hence the transaction stands settled.
12. Customers must receive a quarterly account statement from the PSX Broker showing
details of cash and securities position as per CDS record and back office record of PSX
Broker and reconciliation of any differences therein. However, PSX Broker may provide
account statements to Customer as per other frequency stipulated by Customers.
NOTE: Customers are advised to note that the general securities trade process
described above is subject to requirements stipulated in this ‘Investor Awareness
Guide’ and applicable securities rules, regulations, policies, guidelines, circular, notices
and procedures etc.
15. INVESTOR AWARENESS GUIDE
FOR DETAILS AND QUERIES
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN (SECP)
HEAD OFFICE
UAN: 051-111-117-327
Securities and Exchange Commission of Pakistan
NIC Building, 63 Jinnah Avenue, Blue Area, Islamabad-44000, Pakistan
www.secp.gov.pk or www.jamapunji.pk
PAKISTAN STOCK EXCHANGE LIMITED (PSX)
HEAD OFFICE
Stock Exchange Building, Stock Exchange Road,
Karachi - 74000, Pakistan. UAN: 021-111-001-122
LSE Plaza, 19 Khayaban-e-Aiwan-e-Iqbal,
BRANCH OFFICE - LAHORE
Lahore - 54000, Pakistan. Tel: 042-36316974
Office # G-13, Ground Floor, ISE Towers, 55-B, Jinnah Avenue,
BRANCH OFFICE - ISLAMABAD
Islamabad, Pakistan. Tel: 051-2894500
www.psx.com.pk
CENTRAL DEPOSITORY COMPANY OF PAKISTAN LIMITED (CDC)
HEAD OFFICE
CDC House, 99-B, Block B, S.M.C.H.S. Main Shahra-e-Faisal, Karachi – 74400.
(92-21) 111-111-500
Call Center: 0800–23275
Overseas Callers: + (9221) 34326038
www.cdcpakistan.com
NATIONAL CLEARING COMPANY OF PAKISTAN LIMITED (NCCPL)
8th Floor, Pakistan Stock Exchange Building, Stock Exchange Road
Karachi - 74000, Pakistan. UAN: 051-111-111-622
HEAD OFFICE
www.nccpl.com.pk