Bingol Stock Exchange
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Bingol Stock Exchange (BSX, Packilvanian: luBazaarkisook aleValeer aBingol, BAVABI) is the largest stock exchange in Packilvania and one of the largest stock exchanges in the world by the number of companies listed as well as its total market capitalisation. It is located in Bingol, the capital city and largest city of Packilvania and the second metropolitan area by population in the world. It was founded in 1867 by Prince Yabaar as the Bingol Exchange and Chambers Company. It was reestablished as the People's Securities Exchange Trust after the Packilvanian Communist Party dethroned the Demirite dynasty. It was eventually disestablished and absorbed into the party's Commissariate for International Finance. The Carriers of Mercy established the Packilvanian Stock Exchange in 1977. They moved it from Lehasa, Shakar, to Bingol in 1985 and merged it with the operations of the Commissariate of International Finance.
History
Demirite dynasty
It was founded in 1867 by Prince Yabaar a-Tulmid Demir, a Prince of the Demirite dynasty, who was the head of the largest gold trading guild in the country at the time: the Imperial Gold Traders Guild (IGTG, Packilvanian: luKabalbazaar luShahitishme ameBazrakiskafiya aluAwrum) as the Bingol Exchange and Chambers Company (BECC, Packilvanian: luChubaal aBingol a luBazaarkisook nadine meShambaar) which shared the same building as the IGTG i.e., the Gold Traders Hall (Packilvanian: luShaam ameBazrakiskafiya aluAwrum). The BECC was the first modern securities exchange in Packilvania and it allowed companies to list relatively cheaply. It was also cheaper to list than on the older and more prestigious Auroran Stock Exchange.
Thus, it attracted many companies. When Packilvania was embroiled in the Great War, war bonds were sold here to raise money for the war effort. When Sultana Zerah Demir IV was overthrown by Gideon Muktan, the Packilvanian Communist Party, considered closing it.
Communist rule
Prince Yabaar established the People's Securities Exchange Trust (PSET, Packilvanian: luWaqif ameShabil aluBazaarkisook aleValeer), donated all his shares to it, renounced his royal titles and joined the PCP as a card carrying member. He advocated for the party to allow the Workers' Councils to which transfer of ownership of many private companies was taking place to trade securities on the exchange. The BECC was deregistered as a company and merged with the PSET.
Worker-owned cooperatives and pension funds began trading securities such as preference shares, bonds, currencies, derivatives, index funds, and other financial instruments on the exchange. The hardliners in the PCP did not approve of the plan and the 4th National People's Congress passed the Markets and Factors of Production Nationalisation Act (Packilvanian: luKhanon aluMulakifiya aleYamkayn aluBidahimiya nadine leBazaarkisook) which ordered the Politburo of the PCP to nationalise all industries. All the members of the board of trustees of PSET were dismissed including Yabaar Demir and replaced with state appointees.
PSET was then placed under the newly designated Commissar for International Trade, Sebaal Shamdoun, a political adversary of Yabaar Demir, as a platform and market for domestic entities to enter into contracts such as futures and forwards for the trade of goods and services especially commodities with foreigners. It was renamed the People's International Market (Packilvanian: luSouk luYasteriy ameShabil) The trade of currencies contracts and bonds was conducted through the Packilvanian Currency and Bond Exchange Bureau (luBuriy aluBazrakiskafiya aBakhilfaniya aluDinar nadine leSanadat). The government became increasingly resistant to foreign traded, adopted protectionist policies and they shutdown the trade altogether. Instead, the Commissariate of International Trade decided to absorb the PIM, and turn into its arm for making contacts with foreign suppliers and buyers for goods and services while the purchasing of foreign assets was done through the People's Investment Fund (luQafastamwil aluYaksibathawaariya ameShabil).
Reestablishment
During the 10-year Second Packilvanian Civil War, the Carriers of Mercy allowed people to own property and establish their own companies. They established the Packilvanian Stock Exchange (PSX, luBazaarkisook aBakhilfaniya aleValeer) in Lehasa, Shakar. This allowed the economy of the Carriers of Mercy to be revitalised and for it to raise money for the war effort. It attracted many of the wealthy bourgeoisie and nobility of Packilvania to come back from exile and reinvest in the country. When the Communists were defeated, the Parliament of Packilvania abolished many of the laws of the PCP and moved the PSX to Bingol and renamed it the Bingol Stock Exchange.
Trading
The BSX facilitates the trade of stocks, bonds and funds. Bonds include treasury and corporate bonds. All securities are traded in Packilvanian dinar, Kirib and Standard Hawking Dollar. Capital account controls are in place for foreign investors and all foreign investors must be approved by the Packilvanian Securities Exchange Commission before they can trade. Foreign institutional investors are allowed a maximum of 80 billion KRB in holdings. It is open from 9 in the morning to 3 in the afternoon Central West Packilvanian Time for 9 out of 12 days a week from Xareeq to Pasheed. It is closed from Miwatar to Sowad. Trading is done electronically. Brokers and traders must be registered with the BSX before they can act on the platform.