KARACHI: To attract more investors and public listings, the Pakistan Stock Exchange (PSX) has introduced monthly rankings of brokers as per different criteria.
The PSX will also hold annual capital market awards soon, according to a statement by the bourse.
These rankings will be issued every month based on new unique identification numbers (UINs) opened, traded value and trading volume. The initiative will help Trading Rights Entitlement Certificate (TREC) holders track their performance actively and make efforts to outperform their competitors. The rankings will solely be based on quantitative and objective criteria.
The rankings will be in three categories. The first category will list the top 10 brokerage firms based on the new UINs achieved in the month under review. The category will also carry a list of the top 10 cities from where new UINs originated during the same month.
The second category will have the top 10 brokerage firms in terms of the absolute value traded, including ready and deliverable futures contracts (DFC) markets.
The third category will rank the top 10 brokerages based on the monthly traded volumes.
As per the maiden list issued by the PSX, the top three firms were JS Global Capital Ltd, Ktrade Securities Ltd and Arif Habib Ltd in terms of new UINs.
Top brokers by trade volumes — or the number of shares brokered — were MRA Securities Ltd, Growth Securities Ltd and AKD Securities Ltd
Published in Dawn, November 10th, 2023
