Trading floor of Lahore Stock Exchange (LSE) at Faisalabad will start functioning from November 24. Senate Chairman Mohammedmian Soomro will be chief guest at the opening ceremony, which will be attended by LSE Chairman, Syed Asim Zafar, Managing Director, Hamid Imtiazi, and members and brokers of the exchange as well as investors.
The members opening their offices at Faisalabad will be provided all necessary facilities, which are available to them at Lahore. LSE plans to open such trading floors in other big cities of the province also including Sialkot, Gujranwala and Multan. LSE has recently acquired land in Sialkot in this regard.
According to sources in LSE, over 20 applications have so far been received from the members of the exchange, who intend to open their offices at Sialkot trading floor. They added that this floor would hopefully be ready for trading in six months.
After Sialkot, such floor will also be opened at Multan, Gujranwala and Sargodha, which will facilitate local traders and investors on one hand and help raise the capital base of the LSE on the other.
It may be mentioned that Securities and Exchange Commission of Pakistan (SECP) has urged the stock exchanges to enhance their capital base by opening branch offices in other cities.