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Following high level consultations with Pakistan’s capital market regulator, the Securities and Exchange Commission of Pakistan, FTSE Group (“FTSE”), the global index provider has deferred its decision to remove Pakistan from the FTSE Global Equity Index Series (“GEIS”) in June 2008. Pakistan will therefore remain on the FTSE Watch List for an additional six months and its status will be assessed again at the next country classification review in September 2008.
Pakistan has introduced substantial changes to regulations and services within its stock market. Over the next 6 months, the Securities and Exchange Commission of Pakistan, and its exchanges will hold several market consultation seminars, aimed at informing international investors of enhancements and improvements in the market. These seminars will be held in London and in New York, in conjunction with FTSE.
More information on FTSE’s country classification is available at www.ftse.com/country
About FTSE Group
FTSE Group is a world-leader in the creation and management of indexes. With offices in Beijing, London, Frankfurt, Hong Kong, Madrid, Paris, New York, San Francisco, Boston, Shanghai and Tokyo, FTSE Group services clients in 77 countries worldwide. It calculates and manages the FTSE Global Equity Index Series, which includes world-recognized indexes ranging from the FTSE All-World Index, the FTSE4Good series and the FTSEurofirst Index series, as well as domestic indexes such as the prestigious FTSE 100. The company has collaborative arrangements with the Athens, AMEX, Cyprus, Euronext, Johannesburg London, Madrid, NASDAQ and Taiwan exchanges, as well as Nomura Securities, Hang Seng and Xinhua Finance of China. FTSE also has a collaborative agreement with Dow Jones Indexes to develop a single sector classification system for global investors.
FTSE indexes are used extensively by investors world-wide for investment analysis, performance measurement, asset allocation, portfolio hedging and for creating a wide range of index tracking funds. Independent committees of senior fund managers, derivatives experts, actuaries and other experienced practitioners review all changes to the indexes to ensure that they are made objectively and without bias. Real-time FTSE indexes are calculated on systems managed by Reuters. Prices and FX rates used are supplied by Reuters.
