Futures trading: SECP forwards bill to finance ministry
The bill contains dedicated provisions to cater to all aspects of the futures market in detai
ISLAMABAD:
The Securities and Exchange Commission of Pakistan (SECP) has sent the revised Futures Trading Bill to the Ministry of Finance for further processing and approval of parliament. Futures’ trading is currently regulated under the Securities and Exchange Ordinance 1969. However, specialised features and unique requirements of futures markets warranted promulgation of an independent and comprehensive piece of legislation, laying the grounds for the bill. The bill was drafted in consultation with relevant stakeholders including a fresh session with stock exchanges as well as the Pakistan Mercantile Exchange. The bill contains dedicated provisions to cater to all aspects of the futures market in detail and is based on international best practices to allow for fair, transparent and efficient futures markets.
Published in The Express Tribune, April 9th, 2015.
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