The Pakistan Stock Exchange (PSX) on 30th June announced that it had become the first self-listed capital market in South Asia. The PSX completed the process of enlisting on the exchange a day earlier, on June 29th.
Prior to the announcement, 40 percent PSX shares had already been distributed to the original owners of the bourse - the 200 strong stockbroker fraternities. As many as 30 percent shares have been sold to a Chinese consortium comprising three Chinese exchanges — China Financial Futures Exchange Company Limited (lead bidder), Shanghai Stock Exchange and Shenzhen Stock Exchange. Two local financial institutions - the Pak-China Investment Company Limited and Habib Bank Limited - have been sold a 5 percent share each. The PSX recently sold 20 percent shares of the bourse to the public in an Initial Public Offering.
China Financial Futures Exchange
The China Financial Futures Exchange (CFFEX), is a futures exchange established in Shanghai on September 8, 2006—with the approval of the State Council and the authorization of China Securities Regulatory Commission (CSRC). It is a joint venture of the Zhengzhou Commodity Exchange, Dalian Commodity Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange and the Shanghai Futures Exchange.
Following the principle of higher starting point and higher standard, CFFEX constructed an electronic market which follows the trend of global development. Also CFFEX has a unique multi-tiered members' clearing system, strict risk management policy and an organization structure like a corporation to improve its competitive strength and development potential.
In early 2008, it launched the CSI 300 index futures, the first contract of CFFEX. Later, CFFEX introduced government bond futures. The exchange has plans for other financial derivatives such as other index futures, index options, and currency futures. CFFEX launched its first product by conducting trading systems testing and running a series of programs to educate investors about risks.