Pakistan’s Karachi Stock Exchange Expels 3 Brokers

Aug. 15 (Bloomberg) -- Pakistan’s Karachi Stock Exchange, which barred five brokers from trading shares last month, expelled three of them for not resolving investor complaints.

Eastern Capital Ltd., Cliktrade Ltd. and Capital One Equities were expelled because of their failure to comply with regulatory directives, the exchange said in a statement in Karachi today.

The expulsion of these brokers may lead to criminal proceedings against them, Sohail Dayala, commissioner, Securities & Exchange Commission of Pakistan, said last month, There are a total of about 1,200 investor complaints against the five brokers involving approximately 1 billion rupees ($12 million), he said.

The stock exchange will now invite investor claims against the expelled brokers, which will be assessed by an independent audit firm, the statement said. The brokers’ licenses will then be sold and the funds will be used to settle the claims.

MKA Securities and Prudential Securities, two other brokers which were also suspended because of investor complaints, were given until Aug. 31 and Sept. 15 respectively to resolve matters, it said. MKA Securities’ hearings are still continuing and Prudential has made part payment toward their financial obligations, according to the statement.

“These actions will contribute to restoring the confidence of investors and improving market sentiment,” the statement said.

The benchmark Karachi Stock Exchange 100 index, which fell by a record 58 percent in 2008, has risen 39 percent this year, data compiled by Bloomberg show.

Country’s forex reserves improve by $430 mln

KARACHI: Pakistan's total liquid foreign exchange reserves stood at $12,269.8 million on July 4, 2009, State Bank of Pakistan said on Thursday.According to break-up, foreign reserves held by SBP were $8,963.8million while net forex reserves held by banks (other than SBP) $3,306.0 million.

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2. 
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Forex Trading For Beginners - First Get Trained

You already know that Forex trading (also known as currency trading), is a great (and legal) way to make money at home. But do you know that more than half of the Forex traders are actually Forex losers?

70% of Forex Traders lose money in the market; and only the remaining 30% work towards earning millions annually. These 30% are a success at it because they have Forex trading skills and are formally trained.

If you are serious about working at home, making a fortune by trading at home, you should consider LEARNING about Forex before you start. Forex market is not a one off thing that a beginner can take risk with. An investor needs to brush up his/her skills before nose-diving into it.

Forex is an abbreviation for Foreign Exchange, and it is a system where currency of one nation is traded for another. This is the reason why it is done in currency pairs. The major currency pairs are the Euro Dollar (EUR/USD); the British Pound (GBP/USD); the Japanese Yen (USD/JPY) and the Swiss Franc (USD/CHF).

For the understanding of beginners, Forex Trading is about simultaneous buying of one currency and selling of another. The world's currencies are on a floating exchange rate and therefore as already mentioned earlier, are traded in pairs.

Forex market is different from our regular shares & futures market. Since the transactions in Forex trading are conducted between two counterparts over the telephone or via an electronic network, Forex Market is treated as an Over the Counter (OTC)/ 'Inter-bank' market.

Forex trading is a 24-hour market that begins in Sydney every day and covers the globe as the business day begins in each financial center, from Tokyo, London, to New York and so on. Likewise an average small to medium trader can trade as often as 10 times a day.

Forex Trading is referred as 'Interbank' market because for years it was dominated by banks. Of late though other participants like large multinational corporations, global money managers, registered dealers, international money brokers, futures and options traders, and private speculators have also joined it.

The most often asked question by beginners in Forex trading is, "How much money can I make and how soon?" The one and only answer to this vague question is rather simple. "Ultimately it depends on your appetite for risk". Assuming you trade at the 100:1 leverage - while this type of leverage allows investors to maximize their profit potential, the potential for loss is also equally high. A more pragmatic margin trade for beginners in the Forex markets would be 20:1.

Forex trading skills and its complexities can be learnt irrespective of our educational background, age, gender, country etc. Joining a forex trading training program that is straight forward can help you to understand the complexities of the Forex and teach you to trade profitably.

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