KARACHI: Standard Capital Securities, Pakistan’s most innovative brokerage house, is launching a massive drive to train the next generation of equity traders en masse aimed at empowering a number of equity dealers and fresh gradates to serve a large number of clients.
“There are hundreds of graduates who have just come out of universities without any job offers in hand. We’re going to train them to become active online stock traders. We’ll advertise for this program, select young graduates on merit, and train them over a period of six weeks,” Standard Capital Securities CEO Naushad H Chamdia told the media recently at his office.
The six-week course will include training for technical analysis, fundamental analysis, basic charting, advance interactive charting and analytical tools like moving average convergence divergence MACD. “In the West, they sit there in large numbers, call up their clients and help them trade stocks. That’s exactly what I’m trying to do here,” Chamdia said.
Standard Capital Securities will formally start the selection process in about one and a half months for the first batch comprising about 1520 people. “This is going to be an ongoing program,” he said, adding that the training will not necessarily lead to a job at his brokerage house.
Having a business degree is no requirement, as any graduate, or even a partial graduate, can be selected if they show promise, aptitude and a sound understanding of basic financial concepts, he noted. “After getting trained, their assignment will be commission based. They’ll work from our premises and use our infrastructure and research tools while getting a minimum package, which will include mobile phone and conveyance allowances. After that, the sky is the limit,” Chamdia said.
Standard Capital offers the most comprehensive online platform to their clients with real time data, technical analysis, fundamental analysis, charting and wealth of research and webinars. Standard Capital believes that using their online tools, their clients can make calculated decisions which significantly reduces their risks and maximizes their trading gains.
“Nobody else in Pakistan adopted such a strategy simply because they don’t have the kind of online infrastructure that we have,” he said. Being a finance and computer science major from the University of Maryland, Chamdia claims no brokerage house in Pakistan can match Standard Capital Securities when it comes to online infrastructure and the technical and fundamental tools that its website offers in real time.