Pakistan Stock Exchange (PSX) on Tuesday held a Gong ceremony for the purpose of welcoming Pakistan Kuwait Investment Company (Private) Limited (PKIC) on board as a Market Maker of debt securities on PSX. PSX and PKIC signed an agreement at the PSX Trading Hall whereby PKIC becomes the Market Maker of debt instruments listed on PSX. The signatories of the agreement were Farrukh H. Khan, MD & CEO – PSX, and Mubashar Maqbool, MD – PKIC. Senior management of both the organizations was also in attendance.
Farrukh Khan addressed the gathering and said, “I welcome Pakistan Kuwait Investment Company in their new role as Market Maker of debt securities on PSX. By providing capital to economically viable projects, PKIC has played an important role in promoting industry in Pakistan through equity and debt investments. As a Market Maker on PSX, PKIC will contribute further to Pakistan’s economy by directly engaging in the debt capital market.”
He further added, “I look forward to a period of fruitful cooperation and productivity between the Exchange and PKIC to give depth and expansion to the debt capital market of the country.”
Talking about the new role PKIC will play as Market Maker, Mubashar Maqbool, MD PKIC, remarked, “This is an important milestone for PKIC to become a Market Maker on the PSX platform. PKIC is committed to playing its role in promoting investment, diversifying the investor-base, and developing the debt securities market in Pakistan.”
He continued and said, “We are confident that PKIC, as a Market Maker, will add depth to the debt market and provide liquidity which is critical for the functioning of an efficient and vibrant market. We look forward to building a strong relationship with Pakistan Stock Exchange and continue to promote efforts for enhancement of investor base in the local capital market.”
Market Makers play the crucial role of providing liquidity and depth to the market by facilitating investors to buy & sell securities through continuously quoting the bid and offer prices.
