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Islamabad Stock Exchange is fully aware of the importance of investors� education and believes that by educating the public about stock market investments, further prosperity can be brought in the society. The object of the investor education is to enable a person with absolutely no knowledge of stock exchange to efficiently trade securities and ultimately assist in developing a profitable portfolio.
The ISE has taken the following initiatives towards the investors education:
- Launching of website containing comprehensive material and a lot of information about the capital market.
- Arrangement of presentations/briefings to the general public about the working and functioning of the stock markets.
- Opening of Investors Information Centre for dissemination of information to the general public.
- Installation of Investors Hot Line for providing online reply to some basic questions about the stock market. The people may be connected to this Hotline and may have reply of some basic queries. The ISE has obtained a Universal Access Number i.e. 111-600-800
- Arranging seminars with speakers of great profile in the corporate sector.
- Publishing interviews of the companies CEO and other effective officials on the ISE website.
- Publishing the research papers about the capital market.
- Companies financial analysis are regularly updated on the website.
- Along with this comprehensive information on the variety of subjects like corporate governance, demutualization etc is also available for the respected customers
Guide
to Become a Member of the Exchange
Membership can be obtained in two different ways...
- Fresh Membership
- Through Nomination/transfer
The Exchange may award fresh membership to the applicant
subject to approval of the Board and upon compliance of required formalities. However, a member of the Exchange may transfer his membership to any other nominee under Section 20(a)(b)(c) of the Articles of Association of the Exchange. The price of a fresh membership of Islamabad Stock Exchange is fixed at Rs.7.50 million. However, in case of nomination or transfer the fee is determined by the market forces which is currently ranging from Rs.4.50 million to Rs.5.00 million.
Any individual who complies with the following eligibility criteria as set forth in Article 7 of the Articles of Association can become member of Islamabad Stock Exchange.
Eligibility Criteria
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The
applicant is not less than twenty one years of age.
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He
is citizen of Pakistan.
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He
has not been adjudicated as insolvent or has suspended payment
or has compounded with his creditors.
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He
has not been convicted of an offence involving fraud or breach
of trust.
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He
has not been at any time expelled by this or any other stock
exchange.
-
He
has not been previously refused admission to membership, unless
a period of one year has elapsed since the date of such
rejection.
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He
is not a lunatic or a person of unsound mind.
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He
has had the experience in the business of securities for a period of
not less than two years provided that the Board may waive this
requirement relating to experience in the business of securities
if such person, in respect of means, integrity
and background, considered by the Board to be otherwise
qualified for membership.
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He
is graduate.
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If
he is member of another stock exchange, he possesses a minimum
experience of 10 years as a broker.
-
He
has paid income tax during the last three years with minimum
assessed income of Rs.100,000/.
A corporate body applicant for membership
must fulfill the following requirements as laid down in Article
33 of the Articles of Association of Exchange.
- Be a company or a statutory corporation
or a body corporate.
- Have a minimum issued, subscribed and
paid up capital of Rs. 5.00 million which minimum limit may
be increased by the Directors to be effective after being
notified in the official gazette.
- In the case of statutory corporation or
body corporate to which Section 183 of the Companies
Ordinance 1984 applies, the membership application shall be
accompanied by a 'no objection' from the Federal or
Provincial Government as the case may be.
A prescribed membership form is available from the office of the Exchange. Individual/Corporate
Membership Forms are given on the last pages.
Documents Required
Individual Membership
a) Three passport size photographs.
b) Copy of National Identity Card
c) Pay order of RS. 7.5 million in favour of Islamabad Stock
Exchange being
Membership
Admission Fee (Refundable in case if Membership is refused).
d) Affidavit on Rs. 10/- non-judicial Stamp Paper regarding
eligibility criteria.
e) Copies of Educational Degrees (Only for graduation and higher levels).
f) Copies of income assessment orders for the last three consecutive years
g) Evidence (s) towards Stock Market experience.
h) A Bank reference.
Membership
1. Membership application on the prescribed form.
2. Photocopy of Certificate of incorporation.
3. Photocopy of Certificate of Commencement of business (for public company).
4. Audited accounts of Company for the last three years (if the company is in operation for such period).
5. Certificate for the auditors regarding the Shareholders' Equity.
6. Certified copy of resolution of the Directors of company authorizing a person to apply for the membership of the Exchange on behalf of the company (Annex-A)
7. Certified copy of the list of Directors of the company along-with their complete addresses and number of shares held by each of them in the capital of the company.
8. Certified copy of the list of Directors specifying their directorship in other companies.
9. Certified copy of the resolution of the Directors of company nominating one of its Directors to represent the Corporate Membership at the ISE in all respects (Annex-B)
Note: The nominee Director of the company shall not be a member of the ISE nor shall be a nominee of any other Corporate Member of the Exchange.
10. An Undertaking as per specimen (Annex-C)
11. An affidavit by the Chief Executive of the company in the prescribed form (Annex-D)
12. Documents in support of academic qualifications and stock market experience of al-least two Directors (including the Chief Executive).
13. Documents in support of payment of Income Tax (I.T.30s) and wealth tax assessment of at-least two directors for the last three consecutive years.
14. Five copies of Memorandum & Articles of Association of Company.
15. Bank Reference (to be obtained directly from the Bankers of the company named in the membership application).
16. Photocopies of NIC of all Directors of the company.
17. Cheque/Pay Order of Rs. 4,500,000 (Rupees 4.5 million) in favour of Islamabad Stock Exchange (Guarantee) Limited. The balance membership fee of
Rs. 3,000,000/- shall be required to be deposited once the letter of intent has been issued to Applicant by the Exchange.
18. Investment portfolio of the company (if applicable);
i) as on the date of application;
ii) average portfolio for the last three years;
iii) clients investments handled during the last three years.
19. Pattern of Shareholding.
20. List of Company Officials;
i) Chief Executive
ii) Secretary
iii) Chief Accountant
iv) Auditors
22. Any other document(s) as may be found necessary in the process of Membership application.
After receiving the application form duly filled in along with requisite documents, the case is put up before the Membership Committee for consideration. The Membership Committee
undertakes detailed scrutiny of documents and interviews the applicant/transferee.
After having been satisfied itself that the documents are in
order and applicant complies with the membership criteria, the
Membership Committee refers its recommendation to the Board for
approval. The Board has powers to reject any application for admission without assigning any reason thereto.
A member may open his brokerage house in the Exchange’s premises subject to availability of rooms in the Exchange’s building. A member may also open his branch office out-side the building with the prior approval of the Exchange.
Step wise Guide to Get Company Listed with ISE
The company, desirous of listing on the ISE submits its application in the prescribed form along with documents as well as fee as specified in the Listing Regulations.
The application along with documents is appraised by the concerned department.
Once the process of appraisal is completed, the case so prepared is put before Trading, Regulation and Technology Committee for consideration and recommendation.
Once approved by the Chairman, company is listed on the ready board quotation of the Exchange.
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| Monday to Thursday |
Session / Market | Timings |
| Pre-Regular Market |
9:15 AM to 9:30 AM |
| Regular Market |
9:30 AM to 3:30 PM |
| Friday |
Market Session 1 |
Timings |
| Pre-Regular Market |
9:00 AM to 9:15 AM |
| Regular Market |
9:15 AM to 12:30 PM |
Market Session 2 |
Timings |
| Regular Market |
2:30 PM to 4:30 PM |
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Market Summary
Daily Quotation
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Islamabad Stock Exchange