The National Accountability Bureau (NAB) had cases against two of the
brokerage houses cleared for renewal - Access Global Securities and Adam Securities - which were withdrawn after the oversight committee directed the SECP to conduct an in-house investigation.
Instead of developing a proprietary trading platform or hooking into the system offered by the Philippine Stock Exchange, Abacus tapped a third-party technology provider, Kuala Lumpur-based N2N Connect which to date services leading stock
brokerage houses and investment banks in Malaysia.
The
brokerage house, now shut, has always tried to distance itself from Exential saying its name has been misused without its knowledge.
KDB Daewoo is among the four biggest
brokerage houses in the country, along with Korea Investment and Securities, NH Investment and Securities and Samsung Securities.
Mexico, S.A, as the
brokerage house operates as a line of business
Mumbai, India based
brokerage house, Emkay Global (NSE: EMKAY), has announced a tie up with the UK's investment bank, Icon Capital.
The contract with First Financial
Brokerage House has already been signed.
Discussions with
brokerage house executives reveal that
brokerage houses do not generally ask for margin deposits from institutional clients, as chances of default are not considered significant However, in the case of small clients or individuals,
brokerage houses do operate on margins.
The scrutiny of records revealed that the
brokerage house without clients' consent transferred shares and pledged them with the bank to obtain financing.
Lehman also argued that Nomura is ''not entitled to a single cent'' and that the Japanese
brokerage house ''owes the debtors tens of millions of dollars,'' according to Reuters news agency.
ISTANBUL, Apr 2, 2010 (TUR) -- Turkey-based
brokerage house Is Yatirim A.S.