The Pakistan Stock Exchange (PSX) initiated a monthly broker ranking system on Thursday, aiming to stimulate activities of Trading Rights Entitlement Certificate (TREC) holders and Consultants to the Issue (CTIs). The new strategy, which is expected to attract more investors and initial public offerings (IPOs), will rank brokerage firms and CTIs based on new unique identification numbers (UINs), traded value, and trading volumes each month.
The ranking system, which is set to launch this month, will feature categories such as the top ten brokerage firms based on new UINs, traded value, and traded volumes. Any IPOs debuted within the month will be recognized in these announcements.
In addition to the monthly ranking system, PSX has plans for an annual awards ceremony to mark the end of the year. Brokerage firms are incentivized to enhance their services and activities in order to attain these rankings and awards. Winners can expect multiple benefits such as improved market reputation & credibility, extensive media coverage on PSX platforms, an influx of new clients, a platform to showcase innovative practices, and a stimulus for continuous improvement.
The announcement also revealed that JS Global Capital Ltd, Ktrade Securities Ltd, and Arif Habib Ltd have taken the lead in the first category of rankings for new UINs. The second category ranks the top 10 firms by absolute value traded in both ready and deliverable futures contracts markets. The third category identifies the top 10 brokerages based on monthly traded volumes, with MRA Securities Ltd, Growth Securities Ltd, and AKD Securities Ltd leading the charge.
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