The Pakistan Stock Exchange has become a member of the World Federation of Exchanges (WFE), a global industry association for exchanges and clearing houses.
“In a first for the exchange, PSX joins the premium league of international exchanges! Pakistan Stock Exchange joins the World Federation of Exchanges (WFE), the global industry association for exchanges and clearing houses,” said a tweet shared an unverified account of the stock exchange.
According to the tweet, the inclusion in the federation will provide PSX an opportunity to have a voice on the global platform. “This is a leap forward for PSX as it joins the select group of international exchanges where it will now have a voice on the global platform of WFE,” it added.
The announcement comes days after PSX traded record shares during a trading session, crossing the 48,000 barrier after a period of four years.
The investors are looking active due to corporate activities such as capacity expansions, acquisitions, and sales improvement. The noticeable decline in COVID-19 positivity rate in the country also provided hope for better business situation ahead.
PSX MD Farrukh Khan termed it an “extremely positive news not only for PSX, but also for Pakistan”.
“Membership in this global body will enable PSX to grow further alongside other international exchanges,” he said in a comment to The Correspondent.
“Pakistan Stock Exchange has seen several new developments in the recent past and membership of WFE is a recognition of PSX’s onwards and upwards trajectory of advancements & enhancements,” he added.
The managing director of the PSX further stated that the WFE will allow PSX to “present itself on the international stage through events and conferences, have access to statistics on securities markets from all over the world while having the benefit of profiling our own market internationally, and sharing of knowledge & information with other member exchanges to enhance PSX’s product suite”.