Millennium

FAQs - Frequently Asked Questions

Q 1. How do I get started with Millennium Brokerage (SMC-PVT) LTD?
Ans: You can simply contact us through our telephone number
+92 (42) 3628 0771-7 or our email info@millennium.pk or you can also visit us personally. Our equity dealer will guide you through the process.
Q 2. What types of services Millennium Brokerage (SMC-PVT) LTD does provide?
Ans: We provide a complete package including first hand market information, high quality research and fast execution and settlement of transactions.
Q 3. Why should I choose Millennium Brokerage (SMC-PVT) LTD?
Ans: Millennium Brokerage (SMC-PVT) LTD provide the transparent and efficient system. It has been in the market for over 10 years and has created goodwill for itself.
Q 4. Is there a minimum amount I need to invest to open an account?
Ans: Minimum requirement to open an account is PKR one hundred thousand.
Q 5. How can I purchase/sell shares?
Ans: Once you open an account and entitlement is obtained, orders may also be placed over the telephone with the equity trader assigned for your service or via internet based trading system provided by Millennium Brokerage (SMC-PVT) LTD on your own request.
Q 6. When does an investment purchase need to be paid for?
Ans: Orders will not be processed until your account has the necessary funds available to cover the order.
Q 7. After an investment sale, in how much time will I have access to the proceeds?
Ans: Settlement policy in stock transactions is Trade Date plus 2 business days.
Q 8. What is the procedure to cancel pending orders during system failure?
Ans: In case of Internet Based Trading System Failure due to any Reason, investors can contact us on telephone number +92 (42) 3628 0771-7 to avail Order Placement / Cancellation facility.
Q 9. How do you notify clients about their order executions?
Ans: We send them the order confirmation via email or courier containing details about their executed transactions, at the day end.
Q 10. How are my orders processed and settled via internet?
Ans: Your orders placed through the internet (via internet based trading system) are received at PSX server and immediately sent to the PSX via Fix Protocol for further processing. If accepted, the order is queued for execution and upon successfully matching the rates of corresponding buyer/seller (as the case may be), it gets executed. Although transaction is done on real time basis but the delivery of the securities is received in your CDC Sub Account on the 2nd working day after the transaction has been executed (in case of buying) and vise versa in selling.
Q 11. How do I place/cancel my orders when I am unable to login into the software?
Ans: In case, you are unable to place/cancel your orders via internet, you may still place your orders via our telephone number +92 (42) 3628 0771-7.

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