December 18, 2024

Ethiopian Securities Exchange (ESX) & Ethiopian Capital Market Authority (ECMA) representatives visit PSX Islamabad Office

Representatives from the Ethiopian Securities Exchange (ESX) and the Ethiopian Capital Market Authority (ECMA) visited the Pakistan Stock Exchange (PSX) Islamabad office. During this visit, the PSX team, including Mr. Zahid Latif Khan, CEO of Zahid Latif Khan Securities (Pvt) Ltd., engaged in a detailed discussion about PSX’s operations, its capital market ecosystem, and the crucial role it plays in capital formation. The PSX team presented key information about their market infrastructure, including various trading mechanisms like the ready market, square-up market, and futures square-up market. Additionally, the performance of indices such as the KSE-100 Index (2014-2024) and the KMI Index were also discussed in detail. Key developments and initiatives discussed during the session included, Roshan Digital Account (RDA), Sahulat Account, Shared KYC, GIS, GEM Board and Digital TREC Certificates (online only). During the session, the attendees were briefed about PSX’s established infrastructure, including the Central Depository Company (CDC), National Clearing Company of Pakistan Limited (NCCPL), and the trading systems in place. The PSX team shared valuable insights into capital market regulations, including IPO processes, book-building methods, and the involvement of both institutional and small investors. For derivatives, the discussion covered the importance of transitioning to cash-settled futures and standardized contracts to ensure market robustness. Additionally, the Ethiopian delegation inquired about the clearing and settlement processes, CDC operations, and the role of securities brokers, all of which were duly addressed in a highly interactive session.