SECP to Research Agents Over Market place Treatment in Pakistan

The Securities and Exchange Commission of Pakistan on Weekend released that they had requested an research into agents suspected of market adjustment on Pakistan’s stock exchange marketplace.

They did not identity the agents, but issued a highly worded statement explaining brokers’ techniques to manipulate costs on the Pakistan Stock Exchange over the program of various years.

“These stock agents purposely interfered with the technicalities of the market to deceive shareholders,” it said in a report.

The benchmark KSE100 was up 3.97 % in 2017, ending at 49708 index level on Friday of May.

It said the agents entered bids and features with the before intent of canceling them prior to trade performance, commonly known as “spoofing”, to make the false look of market action.

Previous month, the initial conference of the exchange’s reconstituted panel of administrators was held with 4 seats filled by a Chinese range that holds 40 % value in the bourse after finalization of a divestment.

Previous year the bourse was renewed to the MSCI Growing Market segments Index, giving it a broader range of potential shareholders than as a Frontier Market place.