Asgn-2 Ans

NEW YORK STOCK EXCHANGE
1. How is the NYSE structured?
Postslocation where individual stocks are traded
Tradersreceive orders from brokerage houses
Specialistsindividuals who maintain orderly trading for securities in their

charge
May just match publicly tendered buy and sell orders
Floor traders stand at posts and compete for orders not matched by
specialists
If neither of these occur, specialists will buy or sell for their own
account to prevent excessive price swings
2. Describe the two types of members of the NYSE that work the exchange
floor?
Two main types of floor brokers work on the Trading Floor
house brokers
Independent brokers.
House brokers are employed by brokerage firms that hold accounts for public
investors. These market professionals buy and sell securities as an agent for their
customers.
The majority of independent brokers are direct access brokers who deal with
institutional investors at low commission rates.
3. How many firms are traded on the NYSE and what is their approximate
total market value?
The New York Stock Exchange, or NYSE, was formed in 1792 by twenty-four New
York City stockbrokers. The NYSE is arguably the oldest and most prestigious stock
exchange in the world, and trades still take place on the exchange floor. On an
average day, nearly $61 billion are traded on this exchange and 1.6 billion shares
exchange hands. There are currently around 2,429 companies listed on the NYSE
Euro next worth roughly $18.8 trillion (October 2014).
To be listed on the New York Stock Exchange, the company must have in excess of
2,200 shareholders, with an average daily trading volume of at least 100,000
shares. Generally, the company must have a total capitalization of at least $750
million or pretax earnings in excess of $10 million. There are several combinations
of these requirements, but the bottom line is that a company needs to be either very
big or very profitable to be listed
4. Describe the Initial Public Offering by Huntsman Corporation?
Issuer Huntsman Corporation
Common stock offered by us 51,136,364 shares
Common stock offered by

the selling stockholder 4,545,455 shares
Common stock to be
outstanding after this
offering and the
Reorganization Transaction 215,909,091 shares
Use of Proceeds:
We estimate that the net proceeds to us from this offering and the concurrent
offering of our mandatory convertible preferred stock will be approximately
$1,300 million. We intend to use all of such proceeds, together with cash on
hand, to repay outstanding indebtedness and to purchase approximately
$40 million of U.S. treasury securities that we will pledge as collateral to support
our obligation to pay dividends on our mandatory convertible preferred stock. See
"Use of Proceeds."
5. Describe the following listing requirements for firms to be traded on the

exchange daily trade volume, number of shareholders, aggregate
earnings, and aggregate operating cash flow?
A) The number of beneficial holders of stock held in the name of Exchange member
organizations will be considered in addition to holders of record. The Exchange will
make any necessary check of such holdings.
(B) If the unit of trading is less than 100 shares, the requirements relating to number
of publicly-held shares shall be reduced proportionately. Shares held by directors,
officers, or their immediate families and other concentrated holdings of 10 percent or
more are excluded in calculating the number of publicly-held shares.
(C) For companies that list at the time of their IPOs or Initial Firm Commitment
Underwritten Public Offering, the Exchange will rely on a written commitment from
the underwriter to represent the anticipated value of the company's offering in order
to determine a company's compliance with this listing standard. Similarly, for spin-
offs, the Exchange will rely on a representation from the parent company's
investment banker (or other financial advisor) in order to estimate the market value
based upon the as disclosed distribution ratio..
(D) Shares held by directors, officers, or their immediate families and other
concentrated holding of 10 percent or more are excluded in calculating the number
of publicly-held shares. If a company either has a significant concentration of stock,
or changing market forces have adversely impacted the public market value of a
company which otherwise would qualify for listing on the Exchange, such that its
public market value is no more than 10 percent below $40,000,000 or $100,000,000,
as applicable, the Exchange will generally consider $40,000,000 or $100,000,000, as
applicable, in stockholders' equity as an alternate measure of size and therefore as
an alternate basis on which to list the company.
Security Exchange Commission of Pakistan
1. What is the primary concept that drives SECP laws and regulations?
The Securities and Exchange Commission of Pakistan (SECP) is the financial

regulatory agency in Pakistan whose primary concept that drives laws and
regulations is to develop a modern and efficient corporate sector and a capital
market based on sound regulatory principles, in order to encourage investment and
foster economic growth and prosperity in Pakistan.
The SECP approved various amendments to the regulatory framework of the capital
market in consultation with the relevant stakeholders. These amendments were
aimed at improving risk management, facilitating new products, increasing
transparency and ensuring greater investor protection.
2. How does the SECP ensure that investors have this information?
A wise investor chooses an investment product not only according to

his goals and the amount of capital available but also according to his
Tolerance for risk. All investments carry a certain degree of risk. You
have to determine whether you are a risk-taker or a risk-averse
person. Depending on the extent of risk you intend to take, you should
pursue an investment strategy (aggressive, moderate or conservative)
that fits your risk profile.
3. The SECP also enforce their regulations. Approximately how many

cases do the SECP brings annually against individuals and companies
who break their laws?
The Enforcement Department is responsible for the regulation and enforcement of

companies listed on stock exchanges, public unlisted and private companies having
paid-up capital of Rs7.5 million and above and companies formed under Section 42
of the Ordinance (except insurance companies, non-banking finance companies and
modarabas) with relevant laws and applicable accounting standards through review
of accounts, investigation, and prosecution. In case of non-compliances, necessary
actions are taken against erring companies, their directors, management and
auditors, as appropriate.
The Registrar of Companies and the officers at the CROs adjudicated 1,279 cases of
violation of various provisions of the Ordinance and punitive actions were taken
against non-compliant companies.
The SECP disposed of 284 cases of dissolution of companies. Of these, 42

companies were wound up voluntarily; two companies were compulsorily liquidated
under court orders and 240 companies
4. What are common SECP violations that require civil enforcement
actions?
Investigate possible violations of the securities laws vigorously but fairly
Recommend and implement enforcement proceedings where warranted
Remedy harm to investors
Punish wrongdoers and impose sanctions that correspond to misconduct
Refer matters to other authorities (i.e., justice minister) for follow-up action as
appropriate.
5. When was the SECP established?
The Securities and Exchange Commission of Pakistan (SECP) is the successor of

the erstwhile Corporate Law Authority (CLA), which was an attached department of
the Ministry of Finance. The process of restructuring the CLA was initiated in 1997
under the Capital Market Development Plan of the Asian Development Bank (ADB).
A Securities and Exchange Commission of Pakistan Act was passed by the
Parliament and promulgated in December 1997. In pursuance of this Act, the SECP,
having autonomous status, became operational on January 1 1999.
6. How is the SECP organized?
The SECP is a collegiate body with collective responsibility. Operational and

executive authority of the SECP is vested in the Chairman who is the SECP's Chief
Executive Officer (CEO). He is assisted by four (4) Commissioners, particularly to
oversee the working of various operational units as may be determined by him.
The Securities and Exchange Commission of Pakistan (SECP) is the financial

regulatory agency in Pakistan whose objective is to develop a modern and
efficient corporate sector and a capital market based on sound regulatory principles,
in order to encourage investment and foster economic growth and prosperity in
Pakistan. The scope of the authority of the SECP has been extensively widened
since its creation. The insurance sector, non-banking financial companies, and
pension funds have been added to the purview of the Commission. Now the SECP's
mandate includes investment financial services, leasing companies etc.
The SECP also regulates various external service providers that are linked to the
corporate sector, like chartered accountants, rating agencies, corporate secretaries
and others
7. What are the five divisions of the SECP?
The SECP is divided into the following five divisions:
Company Law Division
Securities Market Division
Specialized Companies Division
Insurance Division
Law Division
References:
https://en.wikipedia.org/wiki/New_York_Stock_Exchange
https://www.nyse.com/index
https://www.nyse.com/markets/nyse/trading-info
http://www.secp.gov.pk/
https://en.wikipedia.org/wiki/Securities_and_Exchange_Commis
sion_of_Pakistan

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NEW YORK STOCK EXCHANGE

1. How is the NYSE structured?

Postslocation where individual stocks are traded

Tradersreceive orders from brokerage houses

Specialistsindividuals who maintain orderly trading for securities in their

May just match publicly tendered buy and sell orders

Two main types of floor brokers work on the Trading Floor

4. Describe the Initial Public Offering by Huntsman Corporation?

Issuer Huntsman Corporation

Common stock offered by us 51,136,364 shares

Common stock offered by

5. Describe the following listing requirements for firms to be traded on the

The Securities and Exchange Commission of Pakistan (SECP) is the financial

A wise investor chooses an investment product not only according to

3. The SECP also enforce their regulations. Approximately how many

The Enforcement Department is responsible for the regulation and enforcement of

The SECP disposed of 284 cases of dissolution of companies. Of these, 42

Investigate possible violations of the securities laws vigorously but fairly

Recommend and implement enforcement proceedings where warranted

Remedy harm to investors

Punish wrongdoers and impose sanctions that correspond to misconduct

5. When was the SECP established?

The Securities and Exchange Commission of Pakistan (SECP) is the successor of

6. How is the SECP organized?

The SECP is a collegiate body with collective responsibility. Operational and

The Securities and Exchange Commission of Pakistan (SECP) is the financial

The SECP is divided into the following five divisions:

Company Law Division

Securities Market Division

Specialized Companies Division

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