KARACHI, Nov 24: The Karachi Stock Exchange is launching automated odd lots market from December 01, 2003, KSE announced here on Monday.

The managing director, Moin M. Fudda, making announcement, explained “it would be a major step towards protection of interest of small investors, by converting an undocumented and unorganized market into an automated and documented platform, being managed by the exchange, where willing buyers and willing sellers could trade in the quantities lesser than the marketable lots, at competitive rates.”

The trades in odd lot market will be settled, under T+3, rolling settlement mechanism, between member to member on a trade-to-trade basis, in electronic book entry form, through central depository system, Fudda added.—APP