The Bank of Punjab (BoP) signed an agreement with the Pakistan Stock Exchange, making it a market maker, after which it will be able to perform market-making activities, reported 24News HD TV channel on Friday.

It means the Bank of Punjab is now the second market maker at the Pakistan Stock Exchange. 

Hence, the bank will now be able to perform market-making activities for various debt instruments such as Government Debt Securities like PIBs, T-Bills as well as Sukuks.

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Market makers perform the crucial role of providing liquidity and depth to the market by continuously quoting two way – bid and offer, prices, helping investors to buy or sell securities. 

In this connection, the deal was inked by the Pakistan Stock Exchange CEO and Bank of Punjab Zafar Masood who started the business session by ringing the traditional bell.

Zafar said his bank would play the role of primary dealer, adding that there were tremendous opportunities for investment in the stock market.

Describing the day as a new beginning with the share market, he also asked the investors to take advantage of the situation.