KSE board for RSA project

Board of directors of Karachi Stock Exchange (KSE) has decided to make it mandatory for exchange members to implement RSA token project as recommended by Development & Trading Affairs Committee.

The meeting chaired by Munir Kamal and attended by acting managing director Haroon Askari and other elected and nominated directors, has approved Condensed Interim Financial Statements and Directors’ Review for nine months ended March 31 , 2011.

It may be noted that KSE had decided to introduce RSA ‘SecuriD’ tokens for the authentication of Karachi Automated Trading System (KATS) users to address the ever changing information security trends and standards in the stock market.

The RSA ‘SecuriD’ will help to further strengthen the security initiatives taken by the Exchange and gain customers’ confidence.

The meeting also decided to make recommendation for developing and getting board’s approval for the Standard Operating Procedure (SOP) to address the abnormal eventualities in trading process, more particularly with respect to first day trading in Right Allotment Letters and application of Circuit Breakers.

The board also decided to make further amendments in BATS Regulations to allow introduction of functionality of Request for Quote (RFQ), and keeping the trading in BATS on undisclosed basis.