Appointment of DMM
The Exchange may appoint any of the following companies as Designated Market Maker for an Assigned Security:
- A Securities Broker, based on the eligibility criteria including but not limited to the minimum capital, required technology, trained personnel and satisfactory compliance history and past track record in dealing with complaints and arbitration award(s).
- A Banking Company, as defined under the Banking Companies Ordinance, 1962;
- A Development Finance Institution (DFI);
- A Collective Investment Scheme (CIS) as defined under the Non-Banking Finance Companies and Notified Entities Regulations, 2008 and the Constitutive Document allows such CIS to act as Market Maker; and
- Any other company permitted by the Exchange and approved by the Commission.
How to apply/register as DMM with PSX
A company may apply to the Exchange to be a Designated Market Maker by submitting an application on a prescribed format and executing a Designated Market Making Agreement.