| Trading
With Us |
|
|
| Download Latest Saturn Version
|
|
|
|
| Trading Information |
|
Types Of Accounts
|
|
This type of Account is meant for an
individual trader or persons trading jointly, sharing a common account. The
relevant details of the individual/both individuals is mandatory in this type
of account along with the photocopy(ies) of CNIC. Please refer Section NA-1 and
NA-3 of the New Application Form:
|
|
|
|
Corporate Accounts, as the name
suggests, can be opened by institutions, companies, partnerships, trusts
and non-profit organizations. Please refer Section NA-1 and NA-3 of the
New Application Form.
|
|
Nature of Accounts
|
|
|
|
Cash Accounts are brokerage accounts in which the customer is
required to pay the full amount prior to the placement of orders and where the
customer's trading limit is equal to the amount of funds deposited in the
account.
|
|
|
|
A brokerage account which allows
an investor to buy securities with money that he/she does not have. The
Margin Value is decided in the New Account Form. Please refer the Margin
Trading sub-section in the Section NA-1 of the New Account Form. Also
refer the Margin Trading and Margin Financing Application Form Na-4 along
with the sub section III in the Section NA-5 Terms and Conditions.
|
|
Requirements for New Account
|
-
New Account Form, filled and signed by the applicant
-
Copy of the CNIC. In case of Joint Account, copy of the CNIC of
Joint Account Holder is also required
|
|
Requirements for Account Maintenance
|
-
The Client has to have 50,000 Rs. worth of stock or cash in the account at a
given time for the maintenance of account once it is opened in the Ismail Iqbal
Securities (Pvt) ltd.
|
|
Types of Orders
|
|
|
|
A request to buy or sell stocks at the
prevailing market price.
|
|
|
|
A request to buy or sell stocks at a
determined price. Limit orders allow you to define the highest price you are
willing to pay when buying, or the lowest price you are willing to accept when
selling.
|
Trading & Settlement System
|
The Karachi Stock Exchange has introduced an state-of-the-art
computerised trading system known as Karachi Automated Trading System (KATS) to
provide a fair, transparent, efficient and cost effective market for the
investors.
Currently, the exchange conducts one trading session from Monday to Thursday and
two sessions on Friday.
|
|
Trading Segments
|
|
|
-
Futures Trading in Provisionally Listed Companies
|
|
Transaction in this segment are
settled through the Clearing House that nets out the purchases and sales
and the financial obligations thereon of each member/firm for the notified
clearing period and issues instructions for deliveries of netted
outstanding business. Payment from and to members are routed through the
Clearing House. For the securities declared to be "eligible securities" by
the Central Depository Company the Clearing House procedure remains the
same as outlined above except that the KSE does not permit their physical
settlement.
|
|
|
|
For about 5 days before the closure of shares
transfer book notified by the company, transactions are settled on T+1 basis.
For non-CDC securities the delivery and payment is settled through the Clearing
House of the Exchange, however, delivery is tendered directly between the
buying and selling members as per the instruction of the Clearing House.
|
|
|
|
Under the Regulations Governing Future
Contracts, trading in Future Contracts started in July 2001. Presently 13
companies are traded under Future Contract and the Contract is fixed for a
period of one month.
|
|
|
|
Brokerages on transactions are freely
negotiable between the brokers and clients.
|
|
|
|
Stamp duty is charged at 1.5% of the face
value of the shares under the physical form of transfer. There is no stamp duty
for transfer settled through the Central Depository System, however, there is a
one-time stamp duty at the rate of One Paisa per share at the time of deposit
of securities in the CDS.
|
|
Back to Top
|