First National Equities Limited (FNEL), a well-established name in Pakistan’s equity brokerage sector, announced the successful resumption of its operations as a trading-only broker starting June 2, 2025. This transition is part of the company’s strategic alignment with the Centralised Gateway Platform operated by EClear Services Limited, reflecting an industry-wide shift toward improved risk management and operational streamlining within the country’s capital markets.
In an official notification submitted to the Pakistan Stock Exchange (PSX), FNEL confirmed that it has completed its migration to the EClear framework. Under this new operational model, FNEL will function exclusively as a trading-only broker, meaning it will no longer assume proprietary risk or engage in the custody of client assets. This move aligns with regulatory directives aiming to segregate trading activities from other risk-bearing operations, thereby enhancing market transparency and investor protection.
Based in Lahore, First National Equities holds a Trading Right Entitlement Certificate (TREC) at the PSX, a credential that has cemented its position as a significant player in Pakistan’s brokerage industry. Since its establishment in 1995, FNEL has been at the forefront of innovation in brokerage services, notably as one of the early adopters of online trading platforms in the country. Over the years, the company has served a diverse clientele that includes both retail investors and institutional clients, providing access to Pakistan’s equity markets through a variety of service channels.
FNEL operates under the broader umbrella of the First National group, which has diversified interests spanning brokerage, real estate, and financial advisory services. The group’s strategic repositioning in recent years has been shaped by evolving regulatory requirements and shifting market dynamics, leading to a focused approach on core brokerage operations that prioritize risk segregation and compliance.
The decision to operate as a trading-only broker under the EClear system marks a significant evolution in FNEL’s business model. By embracing this framework, the company aims to reduce operational risks and enhance its ability to deliver efficient and transparent trading services to its clients. This model also aligns with global best practices in brokerage operations, where trading activities are increasingly isolated from other financial functions to mitigate systemic risks.
FNEL expressed gratitude toward its clients and stakeholders for their support and trust throughout the transition process. The company emphasized its commitment to maintaining high service standards and leveraging the advantages of the new operational framework to improve trading experiences.
As Pakistan’s capital markets continue to modernize and adopt internationally recognized standards, initiatives like FNEL’s migration to the EClear platform are instrumental in fostering a more resilient and investor-friendly environment. This development is expected to contribute positively to market confidence and liquidity, supporting the broader goals of financial sector stability and growth.
In summary, First National Equities Limited’s move to resume trading-only operations under the EClear Centralised Gateway from June 2 represents a strategic adaptation to regulatory reforms. It highlights the company’s dedication to operational excellence and its role in advancing Pakistan’s capital market infrastructure.