KARACHI: In a very positive development for Pakistan’s capital market, an agreement has been signed between Pakistan Stock Exchange (PSX) and MRA Securities Limited (MRA) for on-boarding of MRA as Market Maker for Exchange Traded Funds (ETFs) listed on PSX.
Addition of MRA Securities as Market Maker for ETFs will add further depth and liquidity to the equity market for ETFs.
On the signing of the agreement, Mr. Farrukh H. Khan, the MD & CEO of PSX, said, “It is an excellent development for our capital market whereby a new Market Maker has been added for ETFs. This will not only add to the liquidity of the market but will also encourage more ETFs to be listed on the Exchange. Going forward, I expect more depth in the ETF market with more ETF listings adding to the scope of choices available for investors on PSX”.
Speaking on the occasion, the Director of MRA Securities, Mr. Muhammad Farhan, said, “We would like to thank SECP and PSX for their efforts in developing and promoting the capital market which is in the interest of all market participants and the investing public”.
He added, “We believe that liquidity is critical for the functioning of an efficient and vibrant market and MRA Securities being one of the leading market participants remains committed to contributing to any initiative that helps in bringing required efficiency to the market. ETFs are one of the most popular asset classes in the world providing an opportunity for investors to invest in a variety of diversified portfolios and we welcome its introduction in Pakistan’s capital market”.
He further stated, “We thank PSX for their trust in us by appointing MRA Securities as Market Maker for the ETFs listed on the Exchange”
Market Makers perform the crucial role of providing liquidity and depth to the market by facilitating investors to buy & sell securities through continuously quoting two-way prices, i.e., bid and offer prices.