Who is Haroon Askari ?
Managing Director Pakistan Karachi Stock Exchange.
He belongs to Institute of Business Administration.
As reported earlier this year, Haroon Askari was removed from the position of Chief Executive Officer of the Pakistani Stock Exchange (PSX) after the Securities and Exchange Commission (SEC) advised the Stock Exchange of to do so.
PSX has expanded its Askari ownership for a month, which expires on October 30. PSX has appointed a new acting CEO.
PSX After finding the right candidate for a qualified CEO, the SECP will ask the same for approval.
Back in November, it was reported that Richard Morin was appointed Managing Director and Chief Executive Officer of the Pakistani Stock Exchange (PSX).
He should have joined the PSX since December 1 of this year, but as of now no SECP or PSX
Traditionally, the global stock market is structured by one another, with limited access to the trading floor. In this way, stock trades are protected by these barriers to monopoly. The structure of each other is a form of organization that ensures that it is protected by the monopoly power of the stock exchange and is operated by brokers.
In demutualize exchanges, brokers stockholders lose power and influence in exchange decisions. Due to the fragmented exchange of ideas, ownership, management, and trading are no longer part of the equation, and all components of the capital market are at an equal level. It represents the cultural transformation of the wholesale company, which affects all dimensions of the exchange. This change represents an opportunity to improve the SET’s trading platform for fair and efficient stock market operations, with the objective of protecting the interests of the public.
Modern technology and fast connectivity have eliminated geographical barriers to global markets, resulting in lower intermediary roles and functions such as brokers. With the advent of technology, regulators have the opportunity to expand their market presence across the country to force the stock market to change its structure.