October 19, 2023 (MLN): In order to facilitate more investors and IPOs in the market, PSX has introduced Monthly Brokers Rankings and will subsequently announce Annual Capital Market Awards along with the selection criteria, to acknowledge and celebrate the contribution by brokerage firms and CTIs, as per a press release issued by local bourse today.
Brokerage firms are the primary connection between the investors and the market, hence their role in increasing investors in the capital markets is crucial & instrumental.
They are key to translating and capturing the potential untapped market as the Exchange creates awareness of the market; however, conversions are dependent upon brokerage firms’ outreach, account opening & client management services.
Similarly, the CTIs are the bridge in bringing the listing applications to the Exchange.
They are the connection between the company and the Exchange to identify potential issuers, assess them, make them listing-ready and submit their applications to the Exchange.
Hence, playing a critical role in capital formation and increasing market capitalization.
To bring transparency, excellence, and growth in the capital market, PSX introduces a Monthly Ranking announcement that will be shared through the PSX website as well as on its social media platforms.
This ranking will be on the basis of new UINs opened, traded value and trading volumes during the month.
This Monthly Ranking will help TREC Holders track their performance actively and make efforts to outperform the competitors at various levels, and will be based solely on the quantitative and objective criteria.
Monthly Ranking Categories:
(i) Top Ten Brokerage Firms – New UINs: This will be assessed on the absolute number of new UINs addition. Furthermore, the Top 10 cities with new UINs for the month, shall also be published.
(ii) Top Ten Brokerage Firms – Traded Value: This will be assessed in terms of absolute value traded (PKR) including Ready and DFC markets,
(iii) Top Ten Brokerage Firms – Traded Volumes: This will be assessed in terms of absolute value (No. of shares) including Ready and DFC markets
PSX will make an announcement on a monthly basis on the above and if there has been any IPO during the month that will also be acknowledged in the monthly ranking announcement. This shall be effective from the month of November 2023.
Brokerage firms are encouraged to enhance and augment their services and activities to be acknowledged inthese rankings and the capital market annual awards. Winning the PSX Capital Market Award will offer several benefits to the winning brokerage firms, including:
• Increasing market reputation & credibility
• Publicity through media coverage and PSX’s platforms
• Attracting new clients and investors
• Showcasing innovations and best practices
• Encouragement for continuous improvement
Being part of the PSX Brokers Rankings and winning the Capital Market Annual Awards will result in widespread publicity, credibility, and improved brand positioning of our TREC Holders, and will encourage continuous improvement and innovation in the capital markets.
The Annual Award will be the main event where we will acknowledge and record appreciation for the TREC Holders and CTIs that have contributed significantly to the growth and development of Pakistan’s capital market.
Copyright Mettis Link News
Posted on: 2023-10-19T11:33:19+05:00
