KARACHI: Pakistan’s equity market and securities watchdog are all set to launch a one-window digital platform to issue online-only broker licenses in a bid to attract new investors, including venture capitalists (VCs), fintechs, and other startups, said a senior stock exchange official on Thursday.
The Securities and Exchange Commission of Pakistan (SECP) approved a regulatory framework for online-only brokers earlier this year in May by amending the Pakistan Stock Exchange (PSX) Rulebook.
The platform, named Online-Only Broker License, is designed to ensure customer onboarding, trade execution and provision of support services through electronic means only.
“This is an opportunity to set up a unique and different business model for the brokerage industry,” Raeda Latif, head of marketing and business development at PSX, told Arab News on the sidelines of an event to comprehensively explain the initiative.