AKD Trade has been always on the forefront, whenever it’s a matter of facilitating the stocks investors as it was formed with a mission to provide retail investors maximum access to Pakistan's capital markets.
We feel delighted to inform you that we have now decided to provide you with the access to trade in the Stock Index Futures Contract (SIFC) from Monday, December 31, 2012. The SIFC trading will be carried out for the KSE-30 Index in a minimum lot size of five contracts. Some Key Specifications for the Stock Index Futures Contract (SIFC) are given below:
Underlying Index KSE-30 Index
Contract Multiplier Rs. 5.00 per index point or any other amount as may be determined by the Exchange from time to time with the prior approval of the Commission.
Minimum Fluctuation (Tick Size) One Index Point
Period of Contract 30 days, 60 days and 90 days
Opening of Contract First Trading day of the next week following the close of the contract.
Expiration Date/ Last Trading day Last Friday of the calendar month in which the contract is to expire.
SIFC will provide investors with an opportunity to mimic returns on the KSE-30 index, providing a hedge for individual investors and institutions to take counter balancing positions. Furthermore, SIFC offers cost effective basket exposure to index stocks.
Please note that Rs 20 per contract will be charged as commission on buying and selling of the SIFC contracts. However, there will be NO Roll Over charged on SIFC open positions for the first three months. Similarly, Capital Value Tax (CVT) is also exempted on SIFC Trading.
The Terms & Conditions as well as Policy & Procedures for Futures Trading Facility in DFC & SIFC with some amendments (w.r.t. SIFC) have been reproduced in the hyperlinks below:
A) Additional Terms & Conditions for availing Futures Trading Facility (DFC/SIFC) with AKD Securities Limited
B) Policy & Procedures – DFC - AKD Trade
C) Policy & Procedures – SIFC - AKD Trade
All those clients who have already submitted the required document and availing the Future’s Trading Facility at AKD Trade, will be only be required to request activation of SIFC Trading facility in their accounts either via return email or by calling us at our Call Centre UAN: 021-111-253-253.
However, if you haven’t opted for the Futures Trading facility as yet, and you want to trade in the Deliverable Future’s Contracts (DFC) or the Stock Index Futures Contract (SIFC) then you will be required to print the Document A: Additional Terms & Conditions on Rs 50/- Stamp Paper and submit the duly filled and signed document to any of our offices.
Once SIFC Trading will activated in your AKD Trade account, you will be assigned with a specific SIFC Trade Limit equals to five times of your equity (Equity X 5) for trading in Stock Index Futures Contract (SIFC) for Buying as well as Blank (Short) Selling.
If you are willing to avail this facility, have any queries or need further explanation then please contact us at our Call Centre UAN: 021-111-253-253 or email us at firstname.lastname@example.org
Looking forward to provide you with the best of what online trading has to offer.
Customer Support Services