Key Points:
- Pakistan Stock Exchange states new regulations of minors trading accounts.
- SECP allows parents or guardians to open accounts.
- After age 18, accounts become regular trading.
- Rules encourage financial literacy among the young people.
PSX Issues Guidelines for Under-18 Trading Accounts
The Pakistan Stock Exchange (PSX) has released new guidelines to help parents and guardians open trading accounts for minors. The move, developed with the National Clearing Company of Pakistan Limited (NCCPL) and the Central Depository Company (CDC), follows the Securities and Exchange Commission of Pakistan (SECP) framework.
How to Open Trading Account in PSX for Minors
PSX stated that trading accounts can be opened and operated by children under 18 by a parent or an appointed guardian by the court. This involves checking of accounts, documentation and compliance checks by NCCPL and CDC systems. These steps on how to open a trading account in PSX are meant to facilitate access to finance among young investors.
Once a minor turns 18, PSX will transfer the account into a regular trading account. The exchange also explained the possible tax effects on fund transfers. Investors can find the full procedure and forms for how to open trading account in PSX on the official PSX website.
According to PSX, the initiative helps young people to be financially literate, save more, and become more aware of investments. It enables young investors to invest in the capital market at an early age and gain the knowledge of disciplined investment.
The guidelines mark an important move toward broader investor participation in Pakistan’s stock market. Full details and instructions on how to open trading account in PSX are available at www.psx.com.pk.
