PSX recomposes the KSE-100 and notifies broker commission of fixed income ETF

KARACHI: The Pakistan Stock Exchange (PSX) has recomposed the benchmark KSE-100 Index by replacing three companies.
In a statement issued on Tuesday, the PSX said that three companies have been replaced as they do not fall in the list of top 100 companies as per the sector and market capitalization rule. The PSX informed that it has carried out the re-composition exercise of KSE-100 Index Companies for the review period from September 2021 to February 2022, as a result of which, 3 companies namely Pak-Gulf Leasing Company, Tariq Glass Industries Limited, and Javedan Corporation Limited have been included in the index.
On the other hand, Orix Leasing Pakistan Limited, Feroze1888 Mills Limited, and Jahangir Siddiqui & Company Limited have been ousted from the index. The above changes in the KSE-100 Index will be implemented with effect from April 01, 2022, the statement said.
Meanwhile, the PSX has informed all market participants that the first “Fixed Income ETF” is expected to launch soon which shall be quoted on the main board of PSX.
In order to align the commission structure for this security, the minimum brokerage commission for Fixed Income ETF is revised to 1 paisa or 0.1% whichever is higher. The launch date of the fixed income ETF will be notified separately, the notice said.
All TRE Certificate holders/brokers are advised to ensure compliance with the above-mentioned minimum brokerage commission and the necessary changes are made in the relevant systems in order to offer investors trading in the upcoming fixed income ETF, the notice added. – TLTP