Members Agent and Traders (Eligibility St andard) Rules, 2001
Traders (Eligibility St andards) Rules, 2001 were made by the Securities and Exchange Commission of Pakistan with the approval of the Federal Government in exercise of the powers conferred by section 33 of the Securities and Exchange Ordinance, 1969 (XVII of 1969), read with clause (b) of section 43 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997). The rules define agents, traders, and eligibility criterion for registration as an agent. The word “agent” means a person appointed by a member of a stock exchange to act on his behalf for the purpose recognized by a stock exchange and includes a sub-broker or head of a branch office. The word “trader” means an employee of a member who is authorized by such member to execute trade of the investors through the automated trading system in such exchange. Rule 3 provides eligibility required for registration as agent. It requires that applicant should have at least passed graduation or equivalent examination from an institution recognized by the Government. This condition can be overlooked by the commission if the applicant possesses relevant experience. The requirements shall also apply to a trader employed by the member.
