Annual Report 2012 - Lahore Stock Exchange

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Technology Services DivisionSitting (Left to Right)Muhammad Sohail | Khurram Zafar | Muhammad Kaleem UllahStanding (Left to Right)Sehar Fatima | Suhaib Hussain Malik | Aftab Alam | Agha Hamid | Bilal Anwar | Osama Ali | Maryam EhsanANNUAL REPORT 2011-12 63
Technology Services DivisionThe Technology Services Division (TSD) continued to provide software, hardware and networking support to theExchange and its stakeholders during the period under review. The plan to convert the TSD into an independentbusiness unit of the Exchange was revised to a more gradual transition plan spanning three years in order to ensure asmoother transition. As part of the first phase, all IT operations that encompass the on-going support andmaintenance of the LSE IT infrastructure shall be separated out in FY 2012-13 as a separate department reporting tothe LSE Operations Division. The following year, all software development operations shall be separated within theExchange as an independent business unit, and finally in FY 2014-15, this business unit shall be spun-off as anindependent software development company focused on providing cutting edge software and consulting solutionsto the local and global capital markets.During the period under review, all departments of the TSD – Software Development, IT Operations and ITAdministration and Security continued to operate under the same umbrella. The creation of previously plannedBusiness Development department was postponed to FY 2012-13 due to budget constraints and impendingdemutualization of the Exchange.The vision, mission and core values of the Technology Services Division remain unchanged:Vision"To position LSE Technology Services Division as aworld-class provider of innovative technology solutions tothe global capital markets ecosystem."Mission“To remain at the fore-front of technological evolutionand continue to offer innovative technology products andservices that help our customers differentiate themselvesand succeed, while at the same time offering ouremployees unparalleled opportunities to growprofessionally."Core ValuesInnovationQualityIntegrityValue StatementWe shall strive to remain at the cutting edge, but not the bleeding edge, of technologicaladvancements in the industry in order to continue to serve the bottom line and thecustomers of the ExchangeBy developing processes and nurturing an environment where quality is paramount, we shallserve our stakeholders with products and services in which we take personal prideWe shall continue to strive to honor our commitments and conduct all activities as per thehighest standards of personal and professional ethics and integrityCommunication We shall place utmost importance on frank, honest and direct communication andknowledge sharing within the division as well as with our peers in the organization and ourcustomers outside the organization as appropriateRespectWe shall show respect for the professional responsibilities, perspectives and opinions of allwith whom we interact within and outside the division and LSEEfficiencyWe shall be responsive to our customers and perform all duties and assignments with speedand efficiency to the extent that the reliability and quality of the end work product is notcompromised.64LAHORE STOCK EXCHANGE
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L A H O R E S T O C K E X C H A N G
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2LAHORE STOCK EXCHANGE
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Corporate InformationLahore Stock E
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Board of Directors
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First Board of Directorsafter Demut
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Profile of DirectorsMr. Aftab Ahmad
Page 14 and 15: Profile of DirectorsMr. Ammar-ul-Ha
Page 16 and 17: Profile of DirectorsMs. Bushra Naz
Page 18 and 19: Profile of DirectorsMr. Masood Akba
Page 20 and 21: Profile of DirectorsMr. Mumtaz Huss
Page 22 and 23: Directors’ Report
Page 24 and 25: Directors’ Reportmembers are regi
Page 26 and 27: Directors’ ReportIncomeActual Act
Page 28 and 29: Directors’ ReportDescriptionThe A
Page 30 and 31: Directors’ ReportSEGREGATION OF C
Page 32 and 33: Participation in the International
Page 34 and 35: Directors’ ReportHUMAN CAPITAL IN
Page 36 and 37: Directors’ ReportPOSSIBLE LISTING
Page 38 and 39: Directors’ ReportBOARD COMMITTEES
Page 40 and 41: Corporate Governance
Page 42 and 43: Statement of Compliance with CCGFor
Page 44 and 45: Organizational Roundup
Page 46 and 47: Market Operations DivisionMarket Op
Page 48 and 49: Market Operations DivisionName of C
Page 50 and 51: Market Operations DivisionThe ongoi
Page 52 and 53: Market Operations DivisionThe follo
Page 54 and 55: Corporate Management DivisionSittin
Page 56 and 57: Corporate Management DivisionHUMAN
Page 58 and 59: Corporate Management DivisionWeb an
Page 60 and 61: Regulatory Affairs DivisionSitting
Page 62 and 63: Regulatory Affairs DivisionInvestor
Page 66 and 67: Technology Services DivisionAssets
Page 68 and 69: Technology Services Division In ord
Page 70 and 71: Financial Management DivisionSittin
Page 72 and 73: LSE Highlights
Page 74 and 75: PictorialVisit of National Defence
Page 76 and 77: PictorialMr. Thomas Morris Chief Ec
Page 78 and 79: PictorialSECP Chairman Mohammad Ali
Page 80 and 81: Visitors’ CommentsThank you for s
Page 82 and 83: Visitors’ CommentsMany thanks to
Page 84 and 85: Financial Highlights
Page 86 and 87: Summary of key operating & financia
Page 88 and 89: Income & Expenditure StatementVerti
Page 90 and 91: Financial HighlightsBalance Sheet H
Page 92 and 93: Financials
Page 94 and 95: Auditors’ Reportaccordance with t
Page 96 and 97: Income and Expenditure AccountFor t
Page 98 and 99: Statement of changes in Funds and R
Page 100 and 101: Financial Notes
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Page 104 and 105: Financial Notes2.5 Significant even
Page 106 and 107: Financial Notes- ProvisionsProvisio
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Page 112 and 113: Financial Notes5.4 Foreign currenci
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Financial Notes5.11 Borrowing costs
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Financial NotesooooooooIncome from
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Financial Notes8 Liabilities agains
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Financial Notes2012 2011Note (Rupee
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Financial Notes11 Trade and other p
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Financial NotesBalance of Members
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Financial Notes14.3During the year
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Financial Notes16 Property and equi
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Financial Notes2012 201118 Long ter
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Financial NotesOpening(Restated)201
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Financial Notes(c)In addition to th
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Financial Notes35 Finance cost2012
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Financial Notes39 Financial instrum
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Financial NotesBank balancesBank Ba
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Financial Notes2012 2011(Rupees in
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Financial Notes39.3.5 Operational r
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Financial Notes41.2 Classification
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Annual Report 2012 - Lahore Stock Exchange

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