Port Moresby Stock Exchange Limited (POMSoX) like any other stock exchanges around the globe has been established to meet and serve two fundamental aims;
- To provide an avenue for companies to raise funds for growth and expansion through the issue of shares to the public
- To provide an opportunity for investors to invest their surplus funds into productive areas of the economy through the investment in shares of publicly listed companies.
The Port Moresby Stock Exchange Ltd (POMSoX) was established and registered as organization under the Companies Act 1997. POMSoX was granted a license to operate a stock market under the Securities Act 1997. The PNG Securities Commission is the overall regulator of the Securities Market.
POMSoX is responsible for running and maintaining the independent operations of the stock market. Its primary task is to ensure integrity in its systems and provide confidence to investors and market participants.
Membership of the Stock Exchange is only on Corporate (body) basis. In means that memberships can only be granted to organizations that sufficiently satisfy the Membership Admission Criteria. Membership criteria can be accessed via the POMSoX Business Rules under Chapter 6. It should be noted that criteria contained in the Business Rules is not the finalized set of requirements. The Board of the Exchange has absolute discretion in determining additional requirements and conditions for membership.
Participating Organization / Stock Brokers;
Shareholders and members of POMSoX.
Board of Directors
POMSoX is governed by the Board of Directors; The Board is responsibility for the overall control, management and direction of the company. The Board of Directors comprises the following;
- Mr. Gerea Aopi, CBE
- Mr. Johnson Kalo
- Mr. Richard Borysiewicz
- Mr. Syd Yates, OBE
- Mr. Frank Dunphy
Mr. Geoff Mason – General Manager.
Mr. Vincent Ivosa – Company Secretary & Listing Manager
POMSoX Operating Divisions
a) Market Supervision covers the following areas;
- Investigations and Enforcement
- Market Surveillance
- Technology Administration
- Investor Protection & Relations
- Market Participants Supervision
- Issuer Compliance and Supervision
- Data and Statistics Information Services
b) Finance & Administration covers the following areas;
- Financial Control & Operations
- Corporate Relations
- Human Resource Initiatives
- Media Relations
- General Administration
- Business Development and Growth
c) Clearing & Settlement covers the following areas;
- Settlement and Transfer Systems
- Market Data Management
- Information Vendors Services
POMSoX operates a fully automated Trading System called the Port Moresby Stock Exchange Electronic Trading System (PETS). OMX Technologies installed and set up the trading platform which is similar to old ASX trading system called SEATS. Stockbrokers have access the market for trading through remote terminals located at their respective offices.
Users of the Trading System
- Approved Trading Representatives
- Exchange Representatives
Stockbroker representatives must pass stringent requirements set by the Stock Exchange in order to be recognized as a Designated Trading Representative and or an Affiliate. The requirements for recognition as an Designated Trading Representative and Affiliates can be found in Chapter 6 of the POMSoX Business Rules.
Types of securities traded
- Equity Securities
- Debt Securities