Karachi: First National Equities Limited has officially transitioned into the category of Trading Only Securities Broker. This change, effective from Monday, June 2, 2025, aligns with Regulation 5A of the Securities Brokers (Licensing and Operations) Regulations, 2016.

The transformation was announced on May 30, 2025, and involves structural adjustments to the brokerage operations of First National Equities Limited. The firm will now focus exclusively on trading activities, relinquishing other brokerage functions in compliance with regulatory mandates.

In conjunction with this transition, EClear Services Limited (ESL) has been designated as the Professional Clearing Member (PCM) for First National Equities Limited. ESL will be responsible for settling executed trades and maintaining the custody of securities and funds for all accounts related to First National Equities Limited, including proprietary and associated accounts.

According to information available from the Pakistan Stock Exchange (PSX), the conversion and appointment of a Professional Clearing Member are strategic steps designed to streamline operations and enhance the efficiency of trade settlements within the designated market category.

This development marks a significant shift in the operational focus of First National Equities Limited, underscoring its commitment to adhere to the regulatory framework established by the Securities Brokers (Licensing and Operations) Regulations, 2016.