This section defines the eligibility criteria for selection of Broker Back-Office Vendors by the Exchange. Detailed below is the Eligibility criterion for a Vendor of Broker Back Office Application to apply for and continue to stay as PSX-authorized vendor for Broker Back Office Application:
- Company Registration Vendor must be a registered company of Pakistan/International Origin OR their authorized business partner with registered office in Karachi, Pakistan.
- Relevant Experience Vendor must have at least 5 Years of experience in the area of application development/support in the Financial Industry. New Vendors without prior experience shall be required to present credentials and their application shall undergo a thorough and rigorous evaluation process by the Exchange.
- Profitability The Company should be profit making for at least last three years.
- Skilled Resources Vendor should have sufficient pool of qualified and skilled technical resources having business and IT graduates or Certified with at least 2-3 years of application development or system support experience in the Capital Market Industry. Sufficient pool of qualified resource is defined as a group having two professionals as per above stated stature for each group of 20 brokers so as to ensure that adequate services are provided in a timely manner by the Broker Back Office Vendor to the Brokers.
- Application and Vendor Evaluation Process Software Service Vendors intending to apply and become Exchange approved “Back-Office-System-Vendors” shall apply to Exchange in writing along with their credentials, relevant documents, list of their “Skilled-worked-force” along with a certificate from an Auditor regarding appropriateness and compliance of their application software with Exchange prescribed IT and Information Security Standards.
- Term and Duration of Vendor Eligibility The Exchange shall authorize the vendor for a period of three years and Vendors shall be required to attain renewal after successful completion of term. Vendors once approved by the Exchange shall ensure that provisioning should be made in their system with regard to regulatory changes that takes place after the approval and before the expiry date.
This section contains a provisional list of eligible vendors provided by the Exchange to provide services to the Brokers.
S.No |
Vendor Name |
Location |
1 |
Nubit Software |
Karachi |
2 |
Innovative Soft Systems |
Karachi |
3 |
Microlinks |
Karachi |
4 |
VisionMax |
Karachi |
5 |
Infotech |
Lahore |
6 |
Softtech Systems |
Lahore |
7 |
Catalyst IT Solutions |
Karachi |
8 |
LSE Financial Services |
Lahore |
9 |
Raosoft System
|
Karachi |
10 |
DirectFN Pakistan Pvt.Ltd.
|
Lahore |
* This is neither approved nor a final list of back-office-vendors
* This is neither approved nor a final list of back-office-vendors