To put simply, a stockbroker is a middleman that assist investors buy and sell shares on their behalf. Stockbrokers are independent financial advisors providing advice to their clients on all forms of investments including investment in shares and a range of other products that they offer to their clients.
By law, not just anyone can call himself or herself a stockbroker. There are strict and prudent requirements set out by the Capital Markets Act that individuals and companies meet in order to be granted permission to operate as a stockbroker.
PNGX also has its set of requirements that each individuals or company must meet in order to be granted membership as a participating organisation and given permission to trade on its trading platform.
The areas of responsibility a stockbroker deals with are wide and varied in nature. The primary function of a stockbroker is to advice clients on investments and ensuring that sales and purchases of share transactions are effected between buyers and sellers
A Papua New Guinean stockbroker is subject to the supervision of PNGX. Shares listed on PNGX can only be bought or sold through a registered Participating member organisation.
In Papua New Guinea, there are only two registered stockbroker and members of PNGX. Full contact details are highlighted below.
JMP Securities Limited
Level 1, Harbourside West,
Kina Securities Limited