Capital Market in Pakistan

Stock Exchanges in Pakistan

Karachi Stock Exchange

INTRODUCTION TO THE KSE MARKET

The Karachi Stock Exchange (KSE) was established on 18th September, 1947. It was later converted and registered as a Company Limited by Guarantee on 10th March, 1949. Initially, 90 members were enrolled, however, only half a dozen of them were active as brokers. Similarly only 5 companies were listed with a paid up capital of Rs. 37 million. Now KSE has emerged as the key institution of the capital market of Pakistan with:-   Listed companies 724, securities listed on the exchange 752: ordinary share 724, Preference shares 5 and debt securities (TFC's) 23 Listed capital US$ 4,646 million   Market capitalization US$ 7,746 million   Average daily turnover 142 million shares with average daily trade value US$ 78 million   Membership strength at 200   Corporate Members are 92 out of which 9 are public listed companies   Active Members are 133   Fully automated trading system with T+3 settlement cycle   Deliveries through central depository company   National Clearing and Settlement System in place  Stock Exchange Road, Karachi   Ph:92-21-2425502, 2425504   Fax:92-21-2410825   www.kse.com.pk  Lahore Stock Exchange INTRODUCTION TO THE LSE MARKET Lahore Stock Exchange (Guarantee) Limited came into existence in October 1970, under the Securities and Exchange Ordinance, 1969, of the Government of Pakistan in response to the needs of the Provincial metropolis of the Punjab. Only 83 members had its memberships and it was housed in a rented building in the crowded area of Bank Square in exotic city of Lahore. The number of members has increased from 83 to 150 over a period of 25 years. The past seven years have seen Lahore Stock Exchange come to its own. Business has been steadily on the increase. A modern Management Information System, (MIS) has been firmly in place. Clearing House activities are fully computerized, computer ordering has been implemented. LSE has set up a credit rating company named "Pakistan Credit Rating Agency (Pvt) Limited", (PACRA), in a joint venture with International Finance Corporation (IFC), and IBCA Limited of London.  Khayaban-e-Iqbal, Lahore   Ph:92-42-6368000, 6368522   Fax:92-42-6363848   www.lahorestock.com