FEAS Yearbook FEAS Yearbook 2008 | Page 39

FEDERATION OF EURO-ASIAN STOCK EXCHANGES
SEMI ANNUAL REPORT OCTOBER 2008
LAHORE STOCK EXCHANGE
OFFICIAL 6 MONTH STATISTICS
US$ millions
Total Volume
Average Daily Volume
# Shares millions
Total Volume
Average Daily Volume
Stocks
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
TOTAL 941.64
888.79
726.48
849.66
487.72
339.15
4,233.43 40.94
46.78
36.32
38.62
23.22
16.15
33.67 642.59
515.45
451.43
488.78
310.37
254.92
2,663.53 27.94
27.13
22.57
22.22
14.78
12.14
21.13
Bonds
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
TOTAL 0.00
0.00
0.00
0.00
0.00
0.00
0.00 0.00
0.00
0.00
0.00
0.00
0.00
0.00 0.00
0.00
0.00
0.00
0.00
0.00
0.00 0.00
0.00
0.00
0.00
0.00
0.00
0.00
Other
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
TOTAL 0.00
0.00
0.00
0.00
0.00
0.00
0.00 0.00
0.00
0.00
0.00
0.00
0.00
0.00 0.00
0.00
0.00
0.00
0.00
0.00
0.00 0.00
0.00
0.00
0.00
0.00
0.00
0.00
Market Capitalization (US$ millions)
Index
Jan-08
64,172.31
4,457.31
Feb-08
69,042.02
4,841.66
Mar-08
65,886.48
4,695.82
Apr-08
63,313.56
4,648.50
May-08
50,430.20
3,826.86
Jun-08
51,377.63
3,868.79
PRACTICES & PROCEDURES
Trading
Days
Hours
Monday-Friday
Monday-Thursday, 09:45 - 14:15 ; Friday, 09:30 -
12:00 & 14:30 - 16:00
CFS release: Monday-Thursday, 13:30 -15:00 ;
Friday, 13:30 - 16:30
Open market CFS: Monday-Thursday, 15:30 - 16:30 ;
Friday, 16:45 - 17:30
Market segmentation
4 segments
System
Automated trading, clearing & settlement, depository
link, data dissemination, reporting facilities, internet
services, WAN
WAN
Mechanisms
Continuous auction
Market-maker/Specialists No
Instruments
Ordinary Shares, Preference Shares, Modaraba
Certificates, Government Bonds/Securities, Term
Finance Certificates (TFC)
Currency
Pakistan Rupees
Real time information
Best bid/ask, last price, last volume, total volume,
listed company announcements
Clearing & Settlement
Central Depository
Period
Registered
Settlement
Clearing
DVP
Yes
T+3, T+1 smf Giyitrd Vpmytsvyd
Yes
Book entry
Netting
No, 1 day or more difference between payment and
delivery
Clearing Institution
Risk Sharing
Margin/Lending
Custodians
Taxes
Cash Dividends
Interest Income
Capital Gains
Yes, wholly owned
Yes
Yes
Individuals, institutional investors,
brokerage houses, banks,
exchange members
10%
10%
Exempt until 2007
Structure & Regulations
Legal
Company Limited by Guarantee,
without share capital
Regulation
Self
Securities market
Securities & Exchange Ordinance
regulations
1969 and Rules framed there under,
Companies Ordinance 1984
Trading rules
Exchange
Surveillance
Yes, electronic
Corporate actions
Centralized
Trading halts regulations No
Investor protection
Yes
Foreign Participation
Foreign investors
Investment limitations
Repatriation
Allowed, No restrictions
No limitations
No restrictions
PAGE 39