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Islamabad Stock Exchange was the youngest of the three stock exchanges of Pakistan and is located in the capital of Islamabad until it's merger to create Pakistan Stock Exchange. Islamabad stock exchange ISE was incorporated as a guarantee-limited company on 25 October in Islamabad capital territory with the main object of setting up of a trading and settlement infrastructure, information system, skilled resources, accessibility and a fair and orderly market place that ranks with the best in the world.
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It was licensed as a stock exchange on 7 January It started trading in July ISE has been corportrized and demutualized on August 26, in terms of Stock Exchanges Corpotization, Demutualization and Integration Act, As a consequence thereof, its name has been changed as Islamabad Stock Exchange Limited.
With effect from January 11, the Islamabad Stock Exchange was integrated with the Karachi Stock Exchange Limited under the Stock Exchanges Corporatisation, Demutualization and Integration Act, to form the Pakistan Stock Exchange Limited. The computerized trading system has brought about much needed transparency in the securities trading. It has been designed in such a way to provide automatic matching of bids and offers for execution purpose.
All orders are treated in strict price and time priority, thus ensuring a pure auction market where no order is overlooked or traded through. In this manner, the best trade is executed and passed on to the participants without human interference. Printed confirmation and status messages are immediately received by a member for each of his order. Remote Trading or Internet Trading has been implemented in ISE on 23 June Now Brokers can trade from anywhere in the world using remote trading software of ISE with the same robustness as working on the LAN.
There are securities listed in Islamabad Stock Exchange at the moment. However, number of listed companies varies from time to time due to desisting, mergers and default of companies. Islamabad Stock Exchange joined hands with Lahore Stock Exchange on 30 April to establish a Unified Trading Platform to help in bringing increased liquidity in the market, improving price discoverymaximizing transparency, increasing turnover, broadening investor base, curtailing risks and distortions in trade, providing cost effective service to the investing public and enhancing the image of both the Exchanges.
On 1 JanuaryISE launched its own capital weighted index which is ISE index with a base date of Dec 31, and a value of Before its launch ISE was using index of KSE ISE also has a price weighted index called ISE Network Index which was launched on November Investor Protection Error 1004 this operation requires the merged cells to be identically sized has been established in ISE for the protection of investors.
ISE took the initiative to introduce stock market anomalies literature review audit of brokers in and made it compulsory for maintaining internal control on members.
To increase market transparency and improve broker platform stock trading floors surveillance capacity, the Unique Client Trade grain futures online Number UIN System was launched at pre trade level in August in ISE.
Also a new risk management structure RMS was introduced in December in ISE. New RMS included, among others, a new netting regime; a margining system based on value at risk VAR and capital adequacy.
The VAR is a state of the art risk management system practiced internationally that takes into account risk associated with each share based on historical data. System audit of brokers was introduced in and made necessary.
ISE incorporated Code of Corporate Governance in its listing regulations on to strengthen corporate governance practices in companies of Pakistan.
In order to implement a good corporate governance practices in stock exchanges discount brokers futures Pakistan, ISE took the broker platform stock trading floors to elect a non-broker Chairman for the year Exchange Board of ISE was restructured in in terms of demutualization scheme whereby the Board of Directors constituted of 11 members, of whom 4 are elected members from amongst the Trading Right Entitlement Certificate Holders of the Exchange, 6 are independent Taleb option trading strategy nominated by SECP, and an independent non-member Managing Director is appointed by virtue of his office.
ISE intended to construct a high-rise structure in order to cope with the up-coming demands of stock exchange business. For this purpose, ISE build new building which is properly designed using latest techniques to withstand any natural disasters like the Kashmir earthquake that lead to the collapse of the high-rise Margalla Towers in Islamabad.
Basements have capacity to accommodate three hundred cars at a time. The building also accommodates a plant room for latest HVAC system requirements. Citi forex review floor is allocated for meeting the requirements of banks. Each floor is covered by 6 passenger lifts and one cargo lift along with three stairwells. Indonesia forex broker list central cooling and heating system is provided in the building.
The building is also equipped with latest communication and electrical systems. For a safe working environment, properly designed fire fighting system is provided along with the emergency fire exists. It is also the first building in Islamabad to have an LCD screen attached on it.
ISE Towers were designed by NESPAK Pvt. The construction started in early and the Towers were completed in April It was inaugurated by Prime Minister Syed Yousuf Raza Gilani on 31 July From Wikipedia, the free encyclopedia.
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