The Securities and Exchange Commission of Pakistan (SECP) on Wednesday said that the independent committee of eminent professionals, constituted by the SECP earlier last month, is in the process of compiling its recommendations on the KSE's proposal on Margin Trading. The committee is expected to finalise its recommendations on the derivative segments in its forthcoming session on July 16.
The committee is likely to submit its recommendations to the SECP next week. It may be noted that the concept of 'Margin Trading' once endorsed by the KSE Board of Directors and NCCPL and approved by the SECP would need to be incorporated into the draft Securities (Margin Financing, Securities Lending and Borrowing and Pledging) Rules, 2010. These revised rules will then be submitted to the Federal Government for final approval. -PR