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Categories: BusinessNews

Consideration of installing jammers to prevent use of mobile phones in trading hall of the stock market

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The Securities and Exchange Commission of Pakistan (SECP) has started an investigation after taking notice of unusual trading in some shares in the stock market recently.

Council of Economic and Energy Journalists (SAGE) In a discussion on the occasion of the visit of members of the Securities and Exchange Commission, Commissioner Market Abdul Rahman Waraich said that jammers are being considered to prevent the use of mobile phones in the trading hall of the stock market.

SECP officials gave a detailed briefing on stock market surveillance and insider trading and its prevention. Officials disclosed that the manipulation of trading of certain shares is being investigated while the integrated system to make the business transparent in the stock exchange is fully functional.

The centralized gateway portal system to connect the various stakeholders of the stock market Officials said that the rate of digital online account opening in the capital market is increasing, the total number of account holders is more than 4 lakh.

There is a need for a monitoring system, FBR has given a proposal to work together on the monitoring of business data. In addition, the Securities and Exchange Commission of Pakistan has held a workshop with Pakistan Stock Exchange, National Clearing Company, and Central Depository Company of Pakistan.

A briefing was given on the trading, clearing, settlement and custodial functions of Pakistan Limited, collectively known as Capital Market Infrastructure Institutions. The SECP team discussed in detail the topic of stock exchange capital formation, financial inclusion and investment diversification.

Regarding the process of opening digital online account in stock exchange, a single system has been introduced for investors of all sectors of the financial market such as asset management companies, insurance companies, brokers such as centralized gateway. The way portal is named, it is very simple and digital system.

Explaining the SECP’s mandate on surveillance of the stock market, various types of market manipulation and insider trading were also informed and the various methods of monitoring were explained in this regard. P and are used in stock exchange. Examples and case studies were also presented to the participants for clarification in this regard.

On the occasion, SAGE President Raja Kamran, Secretary Kashif Munir and others agreed that regular communication between regulators and the media is a good practice that will lead to more effective regulation by regulators and more responsible reporting by the media.

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Mazhar Ali Raza

Mazhar Ali Raza is a senior journalist from Karachi. He has served more than twenty years in journalism. He was recently associated with the dunya media group as a senior business reporter from the last eleven years . Prior to that he has worked for CNBC for the period of four years. His major beats were the energy auto banking and agriculture sector . He has covered many seminars and exhibitions in Pakistan and abroad as well .

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