Trading Information

Types Of Accounts

  • Individual and Joint accounts
    This type of account is meant for an individual trader or persons trading jointly, sharing a common account. The relevant details of the individual/both individuals is mandatory in this type of account along with the photocopy(ies) of CNIC. please refer Section Na-1 and Na-3 of the New application Form.

  • Corporate accounts
    Corporate accounts, as the name suggests, can be opened by institutions, companies, partnerships, trusts and non-profit organizations. please refer Section Na-1 and Na-3 of the New application Form.

Nature of accounts
  • Cash Accounts
    Cash accounts are brokerage accounts in which the customer is required to pay the full amount prior to the placement of orders and where the customer's trading limit is equal to the amount of funds deposited in the account.

  • Margin accounts
    a brokerage account which allows an investor to buy securities with money that he/she does not have. The Margin Value is decided in the New account Form. please refer the Margin trading sub-section in the Section Na-1 of the New account Form. also refer the Margin trading and Margin Financing application Form Na-4 along with the sub section III in the Section Na-5 Terms and Conditions.

Requirements for New account

  • New account Form, filled and signed by the applicant
  • Copy of the CNIC. In case of Joint account, copy of the CNIC of Joint account Holder is also required

Requirements for account Maintenance
  • The Client has to have 50,000 Rs. worth of stock or cash in the account at a given time for the maintenance of account once it is opened in the Ismail Iqbal Securities (pvt) ltd.

Types of Orders
  • Market Order
    A request to buy or sell stocks at the prevailing market price.
  • Limit Order
    a request to buy or sell stocks at a determined price. Limit orders allow you to define the highest price you are willing to pay when buying, or the lowest price you are willing to accept when selling.

Trading & Settlement System

The Karachi Stock Exchange has introduced an state-of-the-art computerised trading system known as Karachi automated trading System (KaTS) to provide a fair, transparent, efficient and cost effective market for the investors.

Currently, the exchange conducts one trading session from Monday to Thursday and two sessions on Friday.

Trading Segments
  • T + 3 Counter

  • Futures trading in provisionally Listed Companies
    transaction in this segment are settled through the Clearing House that nets out the purchases and sales and the financial obligations thereon of each member/firm for the notified clearing period and issues instructions for deliveries of netted outstanding business. payment from and to members are routed through the Clearing House. For the securities declared to be "eligible securities" by the Central Depository Company the Clearing House procedure remains the same as outlined above except that the KSE does not permit their physical settlement.

  • Spot / T+1 transactions
    For about 5 days before the closure of shares transfer book notified by the company, transactions are settled on T+1 basis.
    For non-CDC securities the delivery and payment is settled through the Clearing House of the Exchange, however, delivery is tendered directly between the buying and selling members as per the instruction of the Clearing House.

  • Future Contracts
    Under the Regulations Governing Future Contracts, trading in Future Contracts started in July 2001. presently 13 companies are traded under Future Contract and the Contract is fixed for a period of one month.

  • Transaction Costs
    Brokerages on transactions are freely negotiable between the brokers and clients.

  • Stamp Duty
    Stamp duty is charged at 1.5% of the face value of the shares under the physical form of transfer. There is no stamp duty for transfer settled through the Central Depository System, however, there is a one-time stamp duty at the rate of One paisa per share at the time of deposit of securities in the CDS.