The Pakistan Stock Exchange (PSX) has officially launched the new trading and surveillance system in line with its objective to upgrade and enhance its technological capacity and functionality.
The new trading and surveillance system is not only safe and reliable but is also a high-performance, high scalability, and low latency system, PSX said in a statement.
The trading system has been operational in Shenzhen Stock Exchange (SZSE), China, having a remarkable safe-operation record of 20 years without any trading interruption. The new trading and surveillance system runs on top of the line latest servers with faster processing speeds and faster trades execution speeds providing enhanced capacity to increase trading volumes.
Speaking at the launch of the new system, the MD PSX, Farrukh H. Khan, extending his congratulations to all stakeholders, said,
It is a big moment and a landmark achievement for Pakistan Stock Exchange that after a period of over 20 years since the automation of the Stock Exchange trading processes started, we have introduced a cutting-edge, state-of-the-art trading and surveillance system. This trading system provides support for multiple products which includes equities, closed-end funds, bonds, stock futures, ETFs, flexible future contracts with easy provisioning of multiple future contracts, and other derivative products which will be launched in the future. We have launched this system successfully as evidenced by its smooth and seamless performance as experienced by the brokers, investors, and other market participants”.
He further stated, “I thank and congratulate all PSX staff, Pakistan Stock Brokers Association (PSBA), TREC Holders, and other stakeholders, particularly our Information Technology, Trading Department, and Project Management Office teams, who worked hard under the guidance and supervision of the PSX Board and the SECP, to implement this system. Lastly, but most importantly, I would like to thank our Chinese counterparts at SZSE for the cooperation they extended to us for procuring and implementing this new trading and surveillance system at Pakistan Stock Exchange”.
Hailing the introduction of the new trading and surveillance system at PSX, the PSX Chief Information Officer, Adeel Javaid, highlighted the salient features of this system and said, “The new system provides easy-to-use trading business management functions and enhances the ability to ensure the trading business continuity via high availability features.”
Speaking at the launch of the NTS, the PSX Chief Market Operations Officer, Jawad Hashmi, stated, “One of the business advantages with the new trading system is the ease of trading and enhanced outreach of debt market to all TREC Holders/ brokers and the investors. There will also be a possibility to enhance the overall trading hours as a result of the time saved due to the inherent efficiency of NTS processes”.
He added, “We have now successfully relaunched the NTS which has smoothly and seamlessly handled over 650,000 trades in the first eight days of the system’s installation”.
Source: Pro Pakistani