PSX, MRA Securities sign deal

KARACHI: Pakistan Stock Exchange (PSX) and MRA Securities Limited (MRA) signed an agreement for on-boarding of MRA as the market maker for the exchange traded funds (ETFs) listed on PSX, a statement said on Friday.

Addition of MRA Securities as the market maker for ETFs will add further depth and liquidity to the equity market for ETFs, it added.

Farrukh H Khan, managing director and chief executive officer 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.”

MRA Securities Director 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”.