Cuts security deposit for market makers to Rs25,000
The Karachi Stock Exchange (KSE) Wednesday slashed significantly the minimum refundable security deposit for the market makers by Rs 125,000.
“The Exchange has decided to significantly reduce the subject deposit amount for market makers,” said a KSE notice issued to the members Wednesday. The market makers would now have to submit only Rs 25,000 instead of the previous Rs 250,000 as a minimum security deposit that is refundable. Backed by the regulations governing the Market Makers Clause 3(i), the move is aimed at encouraging the stock members to become market makers in the derivative segment, specially the cash-settled single stock and stock index futures markets.
