The governing board of directors of Karachi Stock Exchange (KSE) has decided to make reporting of all off-market transactions mandatory for members with immediate effect. The governing board, in its meeting held on July 2, reviewed the matter as advised by the Securities and Exchange Commission of Pakistan (SECP) wide its letter dated June 20.
The current practice of reporting these transactions to the exchange before 5 pm will, however, continue till an electronic interface is developed and implemented by the exchange for reporting of these transactions through the system.
The KSE has introduced a format for manual "off-market" transactions reporting for all trades. The KSE directed the members to ensure compliance of the above. It also directed them to ensure submission of seller's/buyer's confirmation/contract.
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