Leverage product for stock markets still pending

KARACHI: Securities and Exchange Commission of Pakistan (SECP) did not approve the Leverage product for the stock markets even after the lapse of several months.

Talking to Geo News, Karachi Stock Exchange (KSE) Director Amin Yousuf said KSE sent to the SECP new Leverage product with the name of Margin Trading after approval; but, the Commission did not respond positively on this.

He told that Commission Chairman Salman Sheikh did not give any hint during the meeting before Eidul Adha that this product will soon be approved.

Amin Yousuf said the income of Brokerage Houses dangerously dwindled owing to the absence of this product, warning if the product is not soon approved, the brokerage houses will be forced to limit their operations.