December 16, 2023 (MLN): The Pakistan Stock Exchange Limited (PSX) on Friday issued the Investor Bulletin to educate investors about the manner in which the orders to buy or sell securities can be placed with the securities broker.
According to the guidelines issued by the local bourse, investors are required to place orders to buy or sell securities through three different modes.
The first mode is telephonic communication through a dedicated recorded telephone lines of securities brokers.
Additionally, investors can submit orders through written instructions via registered email addresses, mobile, fax, or letters.
Users employing this method should ensure the placement of orders through their broker's registered office address or any other designated means of written communication.
The last mode to place orders is via verbal means, where customers must provide the written acknowledgement of verbal orders given to securities broker.
The trade orders placed through any of the above modes by the customers should specify the relevant details such as the name and number of the securities and/or futures contracts to be bought or sold, the nature of the transaction and the limitation as to the price, if any, etc.
The securities brokers are required to send/transmit trade confirmation alerts/messages mentioning the particulars of the executed trades, as prescribed, to the relevant customers within 24 hours of the trade execution.
The customers' orders placed through any mode and manner are required to be adequately recorded and preserved by the securities brokers in order to ensure that sufficient documentary evidences exist for efficient resolution of any complaint or dispute that may arise in connection with the order instruction and/or execution thereof.
The customers are further advised to regularly view the trade confirmations and quarterly account statements received from the securities brokers and immediately notify any discrepancy or error observed to the securities broker for taking remedial action.
Copyright Mettis Link News
Posted on: 2023-12-16T14:41:15+05:00
