Pakistan Stock Exchange

Name

Pakistan Stock Exchange

Legal name

Pakistan Stock Exchange Limited

Website

https://psx.com.pk

Company type

Public

Founded year

1947

Operating status

Operating

Headcount range

101–250 employees

Short description

Pakistan Stock Exchange (PSX) is the country's sole national securities and futures exchange, operating the New Trading & Surveillance System (NTS) with T+1 settlement to serve 527+ listed companies, 200+ brokers, and 563,000+ investors across Karachi, Lahore, and Islamabad.

Ownership category

akta.pro rank

Product category

Stock Exchange Services

NAICS

Securities and Commodity Exchanges (5232)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Multi-Asset Alternative Trading Systems (ATS) / Multilateral Trading Facilities (MTF) (FSAFAEAC)

akta.pro secondary industries

Equities Trade Execution Platforms (ATS/MTF/ECN) (FSAFANAA), Fixed Income Electronic Trading Platforms (Bonds/Credit) (FSAFANAB)

Keywords

• Stock exchange services
• Equity trading platform
• Securities listing services
• Derivatives trading
• Market data services

Headquarters

HQ city

Karachi

HQ country

Pakistan

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Transaction/Trading Fees: Revenue generated from trading commissions and transaction fees charged on securities trades executed through the exchange's platform
2. Listing Fees: Fees charged to companies for listing on the exchange, including initial public offerings (IPOs) and additional listings on Main Board, GEM Board, and Debt Securities
3. Data Services & Vending: Revenue from providing market data, real-time quotes, historical data, and data terminal services to brokers, investors, and financial institutions
4. Derivatives Trading: Revenue from futures contracts, options, and other derivative products including Single Stock Cash Settled Futures (CSF) and Index Futures

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

Pakistan Stock Exchange (PSX) operates Pakistan's sole national securities exchange, providing a regulated marketplace for trading equities, fixed income securities, derivatives, exchange-traded funds (ETFs), and government debt. It offers listing services to companies seeking capital market access, market data vending services, and disseminates indices including Shariah-compliant benchmarks (KMI 30). The exchange operates through a network of 200+ brokerage firms (TREC Holders) and provides digital onboarding tools such as the Sahulat Account and the Roshan Equity Investment (REI) program for retail and overseas Pakistani investors.

Product overview

Pakistan Stock Exchange (PSX) is a single unified national stock exchange platform providing a comprehensive suite of capital market products and services. The exchange offers core equity trading, fixed income, derivatives, ETFs, and government debt securities, supported by the New Trading & Surveillance System (NTS) acquired from Shenzhen Stock Exchange. Key indices include KSE 100, KSE 30, KMI 30, and PSX-KMI All Shares for market benchmarking. The exchange also provides margin trading, cash settled futures, and T+1 settlement capabilities. Supporting services include the Sahulat Account for simplified onboarding, PRIDE portal for listings, E-IPO platform for public offerings, Book Building System for IPO pricing, GIS Portal for corporate actions, and the My Portfolio virtual trading tool. The GEM Board caters to emerging companies with relaxed listing requirements, while the Roshan Equity Investment (REI) facility serves overseas Pakistanis. PSX transitioned to T+1 settlement in February 2026, becoming the eighth exchange globally with this capability.

Differentiator

Problem solved

Functional benefit

Brands

• KSE 100 Index: Primary benchmark index of the Pakistan Stock Exchange comprising the top 100 companies by market capitalization.
• KSE 30 Index
• KMI 30 Index
• PSX-KMI All Shares Index
• GEM Board
• Sahulat Account

Products and services

• Equity Trading Spot/equity trading platform for listed common shares and preference shares, with delivery-versus-payment settlement on T+1 cycle.
• Derivatives (Cash Settled Futures) Cash-settled futures contracts on single equities and benchmark indices for hedging and speculative positioning.
• Exchange Traded Funds (ETFs) Listed ETF products enabling investors to gain diversified, passive exposure to baskets of securities including Shariah-compliant equities.
• Government Debt Primary Market Auction Centralized auction platform for primary issuance of Pakistan Investment Bonds (PIBs), Market Treasury Bills (T-Bills), and GoP Ijara Sukuk.
• Fixed Income Secondary Market Secondary market trading venue for government securities and listed corporate bonds/short-term commercial paper.
• Margin Trading System (MTS) Margin financing facility enabling eligible investors to purchase listed equities using borrowed funds provided by approved financiers.
• GEM Board (Growth Enterprise Market) Dedicated listing board with relaxed eligibility criteria for small and medium-sized enterprises seeking access to capital markets.
• Market Data Services Real-time and historical price/volume data dissemination and licensing for retail, institutional, and vendor subscribers.
• PSX Indices Benchmark and thematic indices including KSE 100, KSE 30, KMI 30, KSE All Share, sectoral indices, and Shariah-compliant benchmarks.
• Book Building System Order book-based mechanism for price discovery in public offerings, rights issues, and major share sale transactions.
• E-IPO Platform

Quantifiable outcome

• 60.15% return for KSE-100 in FY2025 - best performing stock market globally
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered strategic and core.

• Arif Habib LimitedstrategicImplementation/ SI/ Consulting Partner · 10 February 2026Served as lead arranger for Pak Qatar General Takaful IPO, Pakistan's first dedicated non-life Takaful operator listing on PSX.
• SECP (Securities and Exchange Commission of Pakistan)coreStrategic or Co-development Partner · 9 November 2025Hosting International Capital Market Conference & Expo 2025 with regional and global stakeholders from Azerbaijan, Bangladesh, China, Iran, and USA. SECP is the frontline regulator of Pakistan's capital markets.
• International Capital Market StakeholdersstrategicStrategic or Co-development Partner · 9 November 2025Regulators, policymakers, and financial institutions from Azerbaijan, Bangladesh, China, Iran, and USA participating in conference to promote regional financial integration and attract foreign investment.
• JazzCashstrategicChannel Partner/ Reseller/ Distributor · 21 October 2025Partnership enabling real-time stock trading on PSX through JazzCash mobile app. Enables over 15 million active JazzCash users to access stock market investments, promoting financial inclusion for unbanked and first-time investors.
• KTrade SecuritiesstrategicChannel Partner/ Reseller/ Distributor · 21 October 2025Partnering with JazzCash to enable stock trading via mobile app. KTrade provides brokerage services and trading infrastructure integrated into JazzCash platform.
• Central Depository Company of Pakistan (CDC)coreTechnology or IntegrationAssociated company providing central depository services for securities. PSX holds stake and nominates directors to CDC board. CDC provides settlement and custody infrastructure essential to exchange operations.
• National Clearing Company of Pakistan (NCCPL)coreTechnology or IntegrationAssociated company providing clearing and risk management services. PSX nominates directors to NCCPL board. NCCPL operates National Investor Base and provides CCP clearing for all PSX trades.
• Topline SecuritiesstrategicImplementation/ SI/ Consulting PartnerServed as advisor for Tasdeeq IPO listing, providing investment banking services for the first credit bureau IPO in South Asia.

Scale indicators8 records

Recent moves11 records

Expansion highlights6 records

Regional players

• Bombay Stock Exchange (BSE): BSE is India's premier stock exchange offering equity, derivatives, debt, and SME platforms. It is directly comparable to PSX as a South Asian national exchange with similar product breadth, demutualized structure, and retail-investor growth profile.
• Dhaka Stock Exchange: Dhaka Stock Exchange is Bangladesh's principal stock exchange, also SECP-equivalent regulated, with a similar mix of retail-driven equity trading, Islamic indices, and demutualization history. Closest comparable by market maturity, regulatory framework, and product set.
• Colombo Stock Exchange: Colombo Stock Exchange operates Sri Lanka's equity and debt markets with a similar demutualized, self-listed model and Shariah-compliant indices. Comparable as a smaller South Asian peer navigating retail-investor growth and modernization.
• Bursa Malaysia: Bursa Malaysia is Malaysia's multi-asset exchange offering equities, derivatives, and Islamic products, and is self-listed. Comparable to PSX in product breadth, Shariah focus, and ASEAN/South Asia institutional investor outreach.
• Abu Dhabi Securities Exchange (ADX): ADX is a Middle East emerging-market exchange offering equities, derivatives, ETFs, and Shariah-compliant products with strong retail growth. Comparable as a regional emerging-market peer scaling international investor outreach and product breadth.
• Qatar Stock Exchange (QSE): QSE is a smaller Middle Eastern multi-asset exchange with an emphasis on Islamic indices and IPO listings. Comparable to PSX in scale, Shariah-product focus, and reliance on retail-driven trading volumes.

Broad incumbents

• National Stock Exchange of India (NSE): NSE is India's largest exchange by volume, operating equity, derivatives, and debt markets with advanced technology. It is a relevant incumbent comparable for benchmarking PSX's technology, product mix, and trading-fee economics at a much larger scale.
• Singapore Exchange (SGX): SGX is Asia's leading multi-asset exchange covering equities, derivatives, and fixed income with deep international participation. Relevant incumbent comparable for PSX's aspirations around derivatives, ETFs, and attracting foreign portfolio flows.
• Hong Kong Exchanges and Clearing (HKEX): HKEX operates a deep multi-asset venue with significant China-Hong Kong cross-border linkages. Useful comparable for understanding how PSX could leverage its Chinese consortium stake to develop cross-border ETF and connect products.

Others

• Shenzhen Stock Exchange: SZSE is both a 40% strategic shareholder of PSX (via the Chinese consortium) and the source of PSX's New Trading & Surveillance System. While not a competitor, it is thematically tied as the technology and standards partner for PSX's modernization.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/pakstockexgltd
• YouTubeyoutube.com/c/PakistanStockExchangeLimited
• Facebookfacebook.com/Pakistanstockexchangelimited
• LinkedInlinkedin.com/company/pakistanstockexchangelimited
• Instagraminstagram.com/pakistanstockexgltd/?hl=en

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pakistan Stock Exchange