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Cotton hedge trading
KARACHI, April 17: The
chairman, Securities and Exchange Commission of
Pakistan (SECP), Dr Tariq Hassan, has asserted
that organizations wishing to enter into hedge
trading must, first and foremost, have adequate
financial and professional resources , risk
management procedures and state-of-the-art
technology.
He made these observations during a visit to
Karachi Cotton Association (KCA) on Friday where
he met Chairman Iqbal Umer and other KCA members.
After address of welcome by the chairman, KCA,
Zahid Bashir, a former chairman, KCA, made a
detailed presentation highlighting the
association's activities over the past years.
He the KCA being the oldest and most experienced
organization should be engaged in cotton hedge
trading. The Chairman SECP indicated that KCA
would have to make a formal proposal, which would
be evaluated and decision taken on merit.
He said while evaluating the application, the SECP
would look at the adequate risk management
procedures, the financial and professional
resources and the technological resources at the
disposal of KCA.
The DAWN |
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Pakissan.com; Advisory Point
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