KSE Internet trading soon
KARACHI- The Karachi Stock Exchange (KSE) will launch the home-grown software this month, said Moin M Fudda, Managing Director of the Karachi Stock Exchange (KSE).
“We are taking initiative to improve the IT at the KSE and Inshaallah within this month our IT team will launch its home-grown software which will double the present capacity and provide gateway for internet trading,” he said during a speech on the occasion of a visit of Shaukat Aziz, Advisor to Prime Minister on Finance and Economic Affairs on December 3, 2002.
He said: “It is almost two-and-a-half months that I have assumed this position” he said and added: “During this period many members have gladly come forward to give their suggestion and extended their support and cooperation.”
He said, “I am happy to say that they have realised the benefits of undisclosed trading and 10-day ‘Badla’ period.”
“Here I must say that market has survived because they honour their words and commitments and despite large volume we have not seen any major causality,” He said.
He said that every year members of the exchange contribute towards clearing and settlement fund and investors protection fund and their contribution is not an income for the exchange and therefore required tax exemption. “Our appeals are pending before the tribunal”, he said.
Source: The News
Date:12/6/2002
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