Karachi Stock Exchange (KSE) board introduced circuit-breakers on the basis of 30-index, Geo News reported Tuesday.
According to a press released issued on the official web site of KSE, the KSE board has approved in principal the introduction of Index Based Market Halts (based on KSE 30-share index) and widening of the scrip level circuit breakers.
The notice also mentioned that to facilitate a better understanding on the above-mentioned subject and explain the modalities to introduce the halts, a detailed presentation will be held for the members today (Tuesday) in the KSE premises.
However, senior member and director on board of KSE Yaseen Lakhani refuted that any such approval has been given and the board would consider it on its next meeting scheduled to be held today.
“This is wrong to announce before the approval of introduction of market halts and scrip circuit breakers,” Lakhani said and added that it was informally discussed few days back that does not mean that the board gave approval on these issues.
The presentation will highlight the difference between scrap-level circuit-breakers and halt based on index, the disadvantages of the international practice; however, the difference would be underscored between the old and new methods of receiving margin from member clients.
The presentation would be organized on Thursday (September 10) by the KSE where all the KSE members have been invited to attend
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