Islamabad Stock Exchange launched new trading software called Islamabad Electronic Trading System (IEES). The new trading software of ISE became operational at the ISE Towers here on December 14, 2012 after successful mock trading sessions and testing of all critical functions, as buying and selling of stocks at the newest bourse was done through IEES. With this development, ISE has achieved self-sufficiency on the core functionality of the exchange. The new software will provide multifaceted facilities to both investors trading through the brokerage houses of ISE as well as the brokers. This advance version of the trading software will also provide online, mobile and SMS trading abilities to the investors and clients of the ISE brokers. This will also provide portfolio management facilities, back office operations, risk management operations, orders routing, data services, direct market access and many other facilities at multiple portals.

Islamabad Stock Exchange (Guarantee) Ltd., Special/Extraordinary Shareholders Meeting, Sep 18, 2012. Agenda: To elect board of directors.

The general body of the Islamabad Stock Exchange (Guarantee) Ltd. has unanimously approved amendments in the Articles of ISE for incorporating three years term of office for directors on the Board of ISE. It may be noted that the term of office of directors of a company having share capital is three years under Section 180 of the Companies Ordinance 1984 whereas the companies having no share capital are allowed to elect their directors as per their articles as given in Section 178(6) of the Companies Ordinance 1984. While considering the improvements in regulatory regime of the capital market, the Commission had been of the view that the tenure of directors of all stock exchanges should be three years in line with the Companies Ordinance and best corporate practices so as to maintain consistency in the policies of the Boards. A general meeting of the ISE was held March 15, 2012 to consider the matter of amendments in Articles of the ISE so as to provide three years term instead of existing one year. The meeting was attending by large number of members.